Insider Selling: Amalgamated Financial (NASDAQ:AMAL) EVP Sells 2,285 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham sold 2,285 shares of Amalgamated Financial stock in a transaction on Friday, February 20th. The stock was sold at an average price of $39.91, for a total transaction of $91,194.35. Following the transaction, the executive vice president directly owned 13,443 shares of the company’s stock, valued at $536,510.13. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Amalgamated Financial Trading Down 4.4%

Shares of Amalgamated Financial stock traded down $1.78 during trading on Monday, hitting $38.67. The stock had a trading volume of 266,166 shares, compared to its average volume of 208,828. The stock has a market cap of $1.16 billion, a PE ratio of 11.34 and a beta of 0.83. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $42.65. The firm’s fifty day simple moving average is $36.25 and its 200-day simple moving average is $31.15. 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 announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.80%. As a group, sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Tuesday, February 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, February 3rd. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.94%.

Hedge Funds Weigh In On Amalgamated Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after buying an additional 49,037 shares during the period. Dimensional Fund Advisors LP lifted its stake in Amalgamated Financial by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock worth $38,205,000 after acquiring an additional 54,885 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Amalgamated Financial by 14.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after acquiring an additional 120,483 shares in the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 102,166 shares during the period. Finally, American Century Companies Inc. increased its position in Amalgamated Financial by 6.7% during 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 during the period. Institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMAL. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amalgamated Financial in a research report on Monday, December 29th. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $27.00 to $28.00 in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Amalgamated Financial currently has an average rating of “Hold” and a consensus 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.