Insider Selling: Amalgamated Financial (NASDAQ:AMAL) EVP Sells 748 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 748 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $40.02, for a total transaction of $29,934.96. Following the completion of the sale, the executive vice president owned 22,307 shares in the company, valued at $892,726.14. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sean Searby also recently made the following trade(s):

• On Wednesday, April 1st, Sean Searby sold 4,948 shares of Amalgamated Financial stock. The shares were sold at an average price of $39.42, for a total transaction of $195,050.16.

Amalgamated Financial Price Performance

Amalgamated Financial stock traded up $0.12 during mid-day trading on Thursday, reaching $41.62. The company had a trading volume of 14,564 shares, compared to its average volume of 175,850. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $42.65. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.24 billion, a P/E ratio of 12.20 and a beta of 0.82. The business has a fifty day simple moving average of $39.27 and a 200 day simple moving average of $33.41.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. The firm had revenue of $87.91 million for the quarter, compared to analyst estimates of $85.37 million. On average, equities research analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Tuesday, February 3rd were given a $0.17 dividend. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, February 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is 19.94%.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of Amalgamated Financial during the third quarter worth $33,000. Osaic Holdings Inc. lifted its holdings in shares of Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the period. Arax Advisory Partners lifted its holdings in shares of Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after purchasing an additional 827 shares during the period. CWM LLC lifted its holdings in shares of Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after purchasing an additional 549 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after buying an additional 1,177 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AMAL shares. Weiss Ratings upgraded shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Piper Sandler started coverage on shares of Amalgamated Financial in a report on Monday, March 16th. They set a “neutral” rating and a $41.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Amalgamated Financial presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

About Amalgamated Financial

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.