Insider Selling: Amalgamated Financial (NASDAQ:AMAL) CFO Sells $129,900.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the transaction, the chief financial officer directly owned 79,343 shares of the company’s stock, valued at approximately $3,435,551.90. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Amalgamated Financial Stock Down 1.8%

Shares of NASDAQ AMAL opened at $43.18 on Thursday. The stock has a market cap of $1.29 billion, a PE ratio of 12.55 and a beta of 0.80. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.09. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $45.23. The business has a 50-day moving average price of $41.81 and a 200 day moving average price of $38.28.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results 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 firm had revenue of $91.36 million during 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%. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.6%. Amalgamated Financial’s dividend payout ratio is currently 19.77%.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Amalgamated Financial by 3.5% in the 4th 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 in the last quarter. Versor Investments LP purchased a new position in Amalgamated Financial in the 4th quarter valued at approximately $935,000. Abacus Wealth Partners LLC purchased a new position in Amalgamated Financial in the 4th quarter valued at approximately $2,100,000. American Century Companies Inc. increased its stake in Amalgamated Financial by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock valued at $15,992,000 after purchasing an additional 36,851 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in Amalgamated Financial in the 4th quarter valued at approximately $659,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AMAL. Piper Sandler upped their price objective on Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Zacks Research downgraded Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Amalgamated Financial presently has a consensus rating of “Hold” and an average price target of $44.00.

About Amalgamated Financial

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.