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 transaction of $129,900.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Amalgamated Financial Stock Performance

Shares of AMAL traded down $0.97 during trading hours on Monday, reaching $43.68. 144,042 shares of the company’s stock traded hands, compared to its average volume of 110,898. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.70 and a beta of 0.80. 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 Corp. has a twelve month low of $25.13 and a twelve month high of $45.23. The business’s fifty day simple moving average is $41.66 and its two-hundred day simple moving average is $38.08.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). The business had revenue of $91.36 million for 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%. Analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Amalgamated Financial’s dividend payout ratio (DPR) is 19.77%.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its position in shares of Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the period. Arax Advisory Partners boosted its position in shares of Amalgamated Financial by 187.1% in the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares during the period. Royal Bank of Canada boosted its position 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. CWM LLC boosted its position in shares of Amalgamated Financial by 41.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Amalgamated Financial by 140.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after purchasing an additional 1,177 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.