Insider Selling: Amalgamated Financial (NASDAQ:AMAL) EVP Sells 501 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham sold 501 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $38.88, for a total transaction of $19,478.88. Following the transaction, the executive vice president owned 15,539 shares in the company, valued at approximately $604,156.32. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Tyrone Graham also recently made the following trade(s):

• On Friday, February 20th, Tyrone Graham sold 2,285 shares of Amalgamated Financial stock. The shares were sold at an average price of $39.91, for a total transaction of $91,194.35.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded down $0.72 during midday trading on Friday, reaching $37.80. The company’s stock had a trading volume of 125,290 shares, compared to its average volume of 157,850. Amalgamated Financial Corp. has a 12-month low of $25.03 and a 12-month high of $42.65. The firm has a 50 day moving average price of $37.46 and a 200-day moving average price of $31.82. The stock has a market capitalization of $1.13 billion, a P/E ratio of 11.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. The company had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. Amalgamated Financial had a return on equity of 14.80% and a net margin of 23.05%. As a group, equities analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s payout ratio is 19.94%.

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares during the period. Dimensional Fund Advisors LP grew its stake in Amalgamated Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after buying an additional 54,885 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Amalgamated Financial by 14.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after buying an additional 120,483 shares in the last quarter. Geode Capital Management LLC raised its holdings in Amalgamated Financial by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 608,506 shares of the company’s stock valued at $18,988,000 after acquiring an additional 102,166 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Amalgamated Financial by 6.7% during the third quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock worth $15,992,000 after acquiring an additional 36,851 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMAL. Weiss Ratings upgraded shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $27.00 to $28.00 in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Amalgamated Financial presently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

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.