Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Insider Sells $208,792.25 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) insider Edgar Romney, Jr. sold 8,269 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $25.25, for a total transaction of $208,792.25. Following the completion of the transaction, the insider now directly owns 13,856 shares of the company’s stock, valued at approximately $349,864. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $25.59 on Thursday. The firm has a market cap of $781.01 million, a PE ratio of 8.36 and a beta of 0.91. Amalgamated Financial Corp. has a 52 week low of $14.06 and a 52 week high of $27.77. The firm’s fifty day moving average is $23.80 and its 200-day moving average is $23.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.34%. The firm had revenue of $107.16 million for the quarter, compared to the consensus estimate of $75.77 million. During the same quarter in the previous year, the company earned $0.74 EPS. Sell-side analysts predict that Amalgamated Financial Corp. will post 3.13 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, May 7th. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently modified their holdings of AMAL. Parallel Advisors LLC boosted its stake in Amalgamated Financial by 50.5% during the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after acquiring an additional 548 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Amalgamated Financial by 8.7% during the 1st quarter. Principal Financial Group Inc. now owns 15,883 shares of the company’s stock worth $381,000 after purchasing an additional 1,265 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of Amalgamated Financial by 1.4% in the 4th quarter. Isthmus Partners LLC now owns 98,285 shares of the company’s stock valued at $2,648,000 after buying an additional 1,314 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Amalgamated Financial by 35.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock valued at $170,000 after buying an additional 1,665 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Amalgamated Financial by 20.2% in the fourth quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after acquiring an additional 1,667 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AMAL has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 5th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. reduced their price objective on Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a research report on Thursday, April 4th.

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.