Sean Searby Sells 3,314 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 3,314 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $47.75, for a total transaction of $158,243.50. Following the completion of the sale, the executive vice president owned 17,466 shares in the company, valued at $834,001.50. The trade was a 15.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Trading Up 0.6%

Shares of Amalgamated Financial stock opened at $47.40 on Friday. 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 firm has a fifty day moving average price of $48.69 and a 200 day moving average price of $44.05. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $51.59. The stock has a market cap of $1.42 billion, a PE ratio of 12.64 and a beta of 0.79.

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

Amalgamated Financial Announces Dividend

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

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Amalgamated Financial during the second quarter worth about $30,000. Compass Financial Management LLC purchased a new position in Amalgamated Financial in the 2nd quarter valued at about $59,000. Royal Bank of Canada lifted its stake in 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 buying an additional 876 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Amalgamated Financial by 42.6% in the 1st quarter. Parallel Advisors LLC now owns 3,216 shares of the company’s stock worth $125,000 after buying an additional 961 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in Amalgamated Financial in the 2nd quarter worth about $227,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Amalgamated Financial Company Profile

Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.

Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.