Oil prices edge down from one-month high with upcoming OPEC+ meeting in focus
Maryann Bruce, a director at Amalgamated Financial Corp. (NASDAQ:AMAL), sold 4,403 shares of common stock on January 28, 2025, according to a recent filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $33.7727, totaling approximately $148,701. The transaction comes as AMAL, currently valued at $1.06 billion, trades near $34.60, showing a strong 27.5% return over the past year. According to InvestingPro analysis, the stock appears slightly undervalued at current levels.
This transaction was executed under a pre-established Rule 10b5-1 trading plan, which Bruce adopted on October 29, 2024. Following this sale, Bruce retains direct ownership of 18,319 shares in the company. The shares were sold in multiple transactions, with prices ranging from $34.07 to $33.54. Trading at an attractive P/E ratio of 9.9, AMAL has demonstrated strong financial performance. InvestingPro subscribers can access 6 additional key insights and a comprehensive Pro Research Report for deeper analysis of AMAL’s valuation and growth prospects.
In other recent news, Amalgamated Bank reported a net income of $27.9 million and a core net income of $28 million in its latest third-quarter earnings report. Deposits surged to $7.6 billion, driven by growth in social, philanthropic, and sustainable funds, and loans increased by 2.7%. The bank also announced a 17% increase in its quarterly dividend, marking the third consecutive year of dividend increases.
Amalgamated Bank has extended its union contract with the Office & Professional Employees International Union until June 2026, offering an annual wage increase of 3.5% and improved terms for employees. Analysts at Keefe, Bruyette & Woods maintained their Outperform rating and $45.00 price target on the bank’s stock, perceiving the recent market reaction as a buying opportunity.
Piper Sandler raised its price target for Amalgamated Bank to $42 from $39, maintaining an Overweight rating on the stock. These recent developments provide a snapshot of the company’s current financial status and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.