Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sells $229,077.18 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam D. Brown sold 8,994 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.47, for a total transaction of $229,077.18. Following the transaction, the executive vice president now owns 45,970 shares in the company, valued at $1,170,855.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Amalgamated Financial Stock Performance

Amalgamated Financial stock traded down $0.28 during trading hours on Tuesday, hitting $25.12. The company had a trading volume of 86,940 shares, compared to its average volume of 144,335. Amalgamated Financial Corp. has a one year low of $14.05 and a one year high of $27.77. The firm has a market cap of $766.16 million, a PE ratio of 8.30 and a beta of 0.91. The firm has a 50-day moving average of $23.33 and a 200 day moving average of $23.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $107.16 million for the quarter, compared to analyst estimates of $75.77 million. Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. During the same quarter last year, the company earned $0.74 earnings per share. On average, sell-side analysts expect that Amalgamated Financial Corp. will post 3.13 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. Amalgamated Financial’s dividend payout ratio (DPR) is currently 13.07%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in shares of Amalgamated Financial by 50.5% during the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after buying an additional 548 shares in the last quarter. AJOVista LLC acquired a new position in Amalgamated Financial in the 4th quarter valued at approximately $94,000. Allspring Global Investments Holdings LLC acquired a new stake in Amalgamated Financial in the first quarter valued at $126,000. SG Americas Securities LLC bought a new position in Amalgamated Financial during the 3rd quarter worth $137,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Amalgamated Financial by 35.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock worth $170,000 after buying an additional 1,665 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.