Jason Darby Sells 3,000 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

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

Amalgamated Financial Trading Up 0.7%

Shares of AMAL stock opened at $43.98 on Wednesday. The stock has a market capitalization of $1.31 billion, a PE ratio of 12.78 and a beta of 0.80. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $45.23. The business has a 50-day moving average of $41.75 and a 200 day moving average of $38.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. The company had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $91.16 million. As a group, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were issued a $0.17 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.5%. Amalgamated Financial’s dividend payout ratio (DPR) is 19.77%.

Analyst Ratings Changes

AMAL has been the subject of several research analyst reports. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Piper Sandler increased their price objective on Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Zacks Research cut Amalgamated Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Amalgamated Financial by 9.7% in the 1st quarter. Bank of America Corp DE now owns 164,680 shares of the company’s stock valued at $6,401,000 after purchasing an additional 14,621 shares during the period. Royal Bank of Canada lifted its stake in shares of Amalgamated Financial by 143.8% in the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after purchasing an additional 876 shares during the period. Empowered Funds LLC lifted its stake in shares of Amalgamated Financial by 6.1% in the 1st quarter. Empowered Funds LLC now owns 134,342 shares of the company’s stock valued at $5,222,000 after purchasing an additional 7,698 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Amalgamated Financial by 51.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,549 shares of the company’s stock valued at $410,000 after purchasing an additional 3,597 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in shares of Amalgamated Financial in the 1st quarter valued at approximately $380,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.