Sean Searby Sells 3,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the transaction, the executive vice president now owns 17,639 shares of the company’s stock, valued at approximately $573,091.11. This represents a 14.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amalgamated Financial Stock Performance

AMAL opened at $30.31 on Thursday. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The stock has a market cap of $929.58 million, a price-to-earnings ratio of 8.79 and a beta of 0.93. The business has a 50 day moving average of $34.30 and a 200-day moving average of $33.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, equities research analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.23%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMAL shares. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $38.00 in a research note on Friday, February 21st. Keefe, Bruyette & Woods raised their price target on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently added to or reduced their stakes in AMAL. Neumeier Poma Investment Counsel LLC acquired a new stake in Amalgamated Financial during the 4th quarter worth approximately $13,093,000. Congress Asset Management Co. acquired a new stake in Amalgamated Financial during the 4th quarter worth approximately $5,339,000. Charles Schwab Investment Management Inc. lifted its holdings in Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after purchasing an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after purchasing an additional 89,444 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC acquired a new position in Amalgamated Financial in the 4th quarter valued at $2,778,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Company Profile

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.