Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Sells $108,080.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $27.02, for a total value of $108,080.00. Following the completion of the sale, the chief financial officer now owns 56,470 shares of the company’s stock, valued at $1,525,819.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Amalgamated Financial Trading Down 2.3 %

Shares of NASDAQ:AMAL opened at $26.27 on Friday. The business’s 50-day moving average is $25.32 and its 200 day moving average is $24.74. Amalgamated Financial Corp. has a 1 year low of $15.19 and a 1 year high of $27.77. The firm has a market capitalization of $801.76 million, a P/E ratio of 8.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $75.77 million. During the same period in the prior year, the company posted $0.74 EPS. On average, research analysts predict that Amalgamated Financial Corp. will post 3.1 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a $0.12 dividend. The ex-dividend date was Tuesday, May 7th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.83%. Amalgamated Financial’s dividend payout ratio is currently 15.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler restated 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. JPMorgan Chase & Co. upped their price objective on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reduced their target price 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of Amalgamated Financial by 2.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock valued at $37,579,000 after purchasing an additional 59,337 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Amalgamated Financial by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock valued at $27,096,000 after purchasing an additional 122,722 shares during the period. Schroder Investment Management Group increased its holdings in shares of Amalgamated Financial by 26.5% in the third quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after purchasing an additional 66,420 shares during the period. Redwood Grove Capital LLC acquired a new position in shares of Amalgamated Financial in the third quarter valued at about $3,972,000. Finally, Arjuna Capital increased its holdings in shares of Amalgamated Financial by 2.3% in the first quarter. Arjuna Capital now owns 171,861 shares of the company’s stock valued at $4,125,000 after purchasing an additional 3,867 shares during the period. 75.93% of the stock is owned by institutional investors and hedge funds.

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.