Leslie Veluswamy Sells 2,500 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total transaction of $108,775.00. Following the transaction, the chief accounting officer owned 14,215 shares of the company’s stock, valued at $618,494.65. This represents a 14.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amalgamated Financial Stock Up 0.9%

Shares of NASDAQ AMAL traded up $0.40 during mid-day trading on Thursday, reaching $44.10. 119,606 shares of the company’s stock traded hands, compared to its average volume of 159,442. The stock has a market cap of $1.32 billion, a P/E ratio of 12.82 and a beta of 0.80. The business has a 50-day simple moving average of $41.36 and a 200 day simple moving average of $37.77. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $44.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. On average, analysts expect that Amalgamated Financial Corp. will post 3.92 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.5%. Amalgamated Financial’s payout ratio is 19.77%.

Analyst Ratings Changes

Several research analysts recently weighed in on AMAL shares. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Zacks Research cut shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Piper Sandler boosted their price target on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.00.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in Amalgamated Financial by 11.0% in the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after acquiring an additional 312 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Amalgamated Financial by 3.4% during the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock valued at $316,000 after buying an additional 383 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after buying an additional 391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after buying an additional 468 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after buying an additional 549 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.