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

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 3,314 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $47.75, for a total value of $158,243.50. Following the transaction, the executive vice president directly owned 17,466 shares of the company’s stock, valued at $834,001.50. The trade was a 15.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded up $0.51 on Thursday, hitting $47.13. The company had a trading volume of 250,849 shares, compared to its average volume of 169,836. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $51.59. The business has a 50 day moving average of $48.66 and a 200 day moving average of $43.97. The company has a market cap of $1.41 billion, a PE ratio of 12.57 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 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 firm had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently declared 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 dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Amalgamated Financial

A number of hedge funds have recently made changes to their positions in AMAL. Integrated Wealth Concepts LLC acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth $30,000. Royal Bank of Canada boosted its holdings in Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after acquiring an additional 876 shares during the last quarter. Compass Financial Management LLC purchased a new stake in Amalgamated Financial during the second quarter valued at about $59,000. Parallel Advisors LLC grew its position in Amalgamated Financial by 42.6% during the first quarter. Parallel Advisors LLC now owns 3,216 shares of the company’s stock valued at $125,000 after acquiring an additional 961 shares during the period. Finally, Arizona State Retirement System acquired a new stake in Amalgamated Financial during the second quarter worth about $227,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

About Amalgamated Financial

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.