Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Director Sells 4,403 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Maryann Bruce sold 4,403 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now owns 18,319 shares of the company's stock, valued at approximately $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded up $0.80 during trading on Friday, reaching $34.94. 250,029 shares of the company traded hands, compared to its average volume of 194,911. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $34.70 and a 200-day simple moving average of $33.06. Amalgamated Financial Corp. has a 52-week low of $21.33 and a 52-week high of $38.19. The stock has a market capitalization of $1.07 billion, a PE ratio of 10.13 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Equities research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.14 dividend. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a yield of 1.60%. Amalgamated Financial's dividend payout ratio is currently 13.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMAL. Principal Financial Group Inc. boosted its holdings in shares of Amalgamated Financial by 10.0% in the fourth quarter. Principal Financial Group Inc. now owns 18,992 shares of the company's stock worth $636,000 after buying an additional 1,722 shares during the last quarter. Congress Asset Management Co. bought a new position in Amalgamated Financial in the fourth quarter worth approximately $5,339,000. New York State Teachers Retirement System bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at $55,000. Figure 8 Investment Strategies LLC purchased a new stake in shares of Amalgamated Financial in the 4th quarter worth $2,778,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amalgamated Financial in the 4th quarter worth $469,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMAL has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.

Amalgamated Financial Company Profile

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.