Sean Searby Sells 4,948 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 4,948 shares of Amalgamated Financial stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $39.42, for a total value of $195,050.16. Following the completion of the transaction, the executive vice president owned 23,055 shares in the company, valued at $908,828.10. This represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Performance

Shares of AMAL remained flat at $39.40 during trading hours on Friday. The stock had a trading volume of 114,181 shares, compared to its average volume of 141,176. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $1.18 billion, a P/E ratio of 11.55 and a beta of 0.82. Amalgamated Financial Corp. has a 52-week low of $25.03 and a 52-week high of $42.65. The business’s 50 day moving average price is $39.11 and its two-hundred day moving average price is $33.11.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Amalgamated Financial had a return on equity of 14.60% and a net margin of 23.05%.The company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $85.37 million. Analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s dividend payout ratio (DPR) is 19.94%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Piper Sandler started coverage on shares of Amalgamated Financial in a research note on Monday, March 16th. They issued a “neutral” rating and a $41.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its holdings in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Amalgamated Financial during the third quarter valued at about $33,000. Arax Advisory Partners raised its position in shares of Amalgamated Financial by 187.1% in the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares during the last quarter. CWM LLC boosted its stake in Amalgamated Financial by 41.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after purchasing an additional 549 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Amalgamated Financial by 140.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after purchasing an additional 1,177 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other 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.