Sam D. Brown Sells 8,994 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam D. Brown sold 8,994 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.47, for a total value of $229,077.18. Following the completion of the sale, the executive vice president now directly owns 45,970 shares of the company’s stock, valued at approximately $1,170,855.90. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $25.49 on Thursday. The business has a fifty day moving average of $23.40 and a 200 day moving average of $23.38. Amalgamated Financial Corp. has a 1 year low of $14.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $777.45 million, a price-to-earnings ratio of 8.33 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. The firm had revenue of $107.16 million during the quarter, compared to analysts’ expectations of $75.77 million. During the same period last year, the business posted $0.74 earnings per share. As a group, research analysts expect that Amalgamated Financial Corp. will post 3.13 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.88%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 7th. Amalgamated Financial’s payout ratio is presently 13.07%.

Institutional Trading of Amalgamated Financial

Large investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its position in Amalgamated Financial by 2.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock valued at $37,579,000 after purchasing an additional 59,337 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Amalgamated Financial by 26.5% in the 3rd quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after buying an additional 66,420 shares during the period. Clean Yield Group boosted its stake in shares of Amalgamated Financial by 3.5% in the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock worth $3,919,000 after buying an additional 4,960 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Amalgamated Financial by 30.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 129,127 shares of the company’s stock worth $3,479,000 after acquiring an additional 30,262 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Amalgamated Financial by 3.9% during the third quarter. Brown Advisory Inc. now owns 862,875 shares of the company’s stock worth $14,859,000 after acquiring an additional 32,733 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMAL shares. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th. Keefe, Bruyette & Woods decreased their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a research report on Thursday, April 4th.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.