Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Insider Sells $208,792.25 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) insider Edgar Romney, Jr. sold 8,269 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total transaction of $208,792.25. Following the transaction, the insider now directly owns 13,856 shares in the company, valued at approximately $349,864. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Amalgamated Financial Price Performance

AMAL stock opened at $25.59 on Thursday. The stock has a market capitalization of $781.01 million, a price-to-earnings ratio of 8.36 and a beta of 0.91. The firm’s 50-day moving average price is $23.80 and its two-hundred day moving average price is $23.95. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.23. Amalgamated Financial Corp. has a 12-month low of $14.06 and a 12-month high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. Amalgamated Financial had a return on equity of 16.34% and a net margin of 23.22%. The company had revenue of $107.16 million for the quarter, compared to the consensus estimate of $75.77 million. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, equities analysts predict that Amalgamated Financial Corp. will post 3.13 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were paid a $0.12 dividend. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.88%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Institutional Trading of Amalgamated Financial

Several large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in shares of Amalgamated Financial by 50.5% in the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after purchasing an additional 548 shares during the period. AJOVista LLC bought a new position in Amalgamated Financial in the fourth quarter worth about $94,000. Allspring Global Investments Holdings LLC purchased a new stake in Amalgamated Financial in the first quarter worth about $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Amalgamated Financial by 35.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock valued at $170,000 after acquiring an additional 1,665 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Amalgamated Financial by 20.2% during the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after acquiring an additional 1,667 shares during the period. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th. Keefe, Bruyette & Woods reduced their price target on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company in a research report on Thursday, April 4th.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.