Sean Searby Sells 4,948 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 4,948 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $39.42, for a total value of $195,050.16. Following the sale, the executive vice president owned 23,055 shares of the company’s stock, valued at approximately $908,828.10. This trade represents a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL remained flat at $39.40 during trading on Friday. 114,181 shares of the stock traded hands, compared to its average volume of 141,176. Amalgamated Financial Corp. has a 52-week low of $25.03 and a 52-week high of $42.65. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.55 and a beta of 0.82. 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 50 day simple moving average of $39.11 and a 200-day simple moving average of $33.11.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. The business had revenue of $87.91 million for the quarter, compared to analysts’ expectations of $85.37 million. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. As a group, research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Tuesday, February 3rd were paid a dividend of $0.17 per share. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Tuesday, February 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. Amalgamated Financial’s dividend payout ratio is presently 19.94%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMAL. 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 assumed coverage on Amalgamated Financial in a research report on Monday, March 16th. They set a “neutral” rating and a $41.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.00.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently added to or reduced their stakes in AMAL. State of Alaska Department of Revenue purchased a new position in Amalgamated Financial during the 3rd quarter valued at about $33,000. Osaic Holdings Inc. boosted its stake 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 valued at $34,000 after purchasing an additional 391 shares in the last quarter. Arax Advisory Partners boosted its stake 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 valued at $41,000 after purchasing an additional 827 shares in the last quarter. CWM LLC increased its holdings in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after buying an additional 549 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Amalgamated Financial by 140.6% in 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 in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Amalgamated Financial Company Profile

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.