Amalgamated Financial (NASDAQ:AMAL) CFO Jason Darby Sells 19,995 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 19,995 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $48.10, for a total value of $961,759.50. Following the sale, the chief financial officer owned 53,851 shares of the company’s stock, valued at $2,590,233.10. This represents a 27.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Darby also recently made the following trade(s):

• On Wednesday, September 2nd, Jason Darby sold 1 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.20, for a total value of $48.20.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $47.87 on Friday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 12.77 and a beta of 0.79. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The business’s 50-day simple moving average is $48.58 and its 200-day simple moving average is $43.77.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The business had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Equities analysts predict that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, August 4th. Amalgamated Financial’s payout ratio is currently 18.13%.

Wall Street Analyst Weigh In

AMAL has been the topic of a number of research reports. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods upped their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Piper Sandler increased their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial started coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Amalgamated Financial News Roundup

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
• Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
• Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
• Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing

Hedge Funds Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Amalgamated Financial in the second quarter valued at about $156,331,000. California State Teachers Retirement System increased its holdings in Amalgamated Financial by 4,999.4% during the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after purchasing an additional 820,708 shares during the last quarter. Millennium Management LLC raised its position in shares of Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after purchasing an additional 203,440 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $7,771,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Amalgamated Financial during the 2nd quarter valued at approximately $6,931,000. Institutional investors and hedge funds 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.