Amalgamated Financial (NASDAQ:AMAL) CFO Jason Darby Sells 3,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the sale, the chief financial officer owned 79,343 shares of the company’s stock, valued at $3,435,551.90. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Amalgamated Financial Stock Down 2.2%

NASDAQ AMAL traded down $0.97 during trading on Monday, reaching $43.68. 144,042 shares of the company’s stock were exchanged, compared to its average volume of 110,898. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $45.23. The firm has a market capitalization of $1.30 billion, a PE ratio of 12.70 and a beta of 0.80. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $41.66 and its 200-day simple moving average is $38.08.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $91.16 million. Sell-side analysts predict that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial’s payout ratio is currently 19.77%.

Analyst Ratings Changes

Several research firms recently weighed in on AMAL. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Zacks Research lowered Amalgamated Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Piper Sandler boosted their price objective on Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.00.

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in Amalgamated Financial by 9.7% in the first quarter. Bank of America Corp DE now owns 164,680 shares of the company’s stock valued at $6,401,000 after buying an additional 14,621 shares during the period. Royal Bank of Canada grew its stake in Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after purchasing an additional 876 shares in the last quarter. Empowered Funds LLC grew its stake in Amalgamated Financial by 6.1% in the first quarter. Empowered Funds LLC now owns 134,342 shares of the company’s stock valued at $5,222,000 after purchasing an additional 7,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Amalgamated Financial by 51.7% in the first quarter. The Manufacturers Life Insurance Company now owns 10,549 shares of the company’s stock valued at $410,000 after buying an additional 3,597 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Amalgamated Financial in the first quarter valued at approximately $380,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.