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

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 3,000 shares of the stock in a transaction on 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 directly owned 79,343 shares in the company, valued at approximately $3,435,551.90. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Amalgamated Financial Stock Performance

AMAL opened at $43.68 on Tuesday. The firm has a market cap of $1.30 billion, a P/E ratio of 12.70 and a beta of 0.80. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $45.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. The business’s fifty day moving average is $41.66 and its 200-day moving average is $38.08.

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

Amalgamated Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.6%. Amalgamated Financial’s dividend payout ratio (DPR) is 19.77%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Amalgamated Financial by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after purchasing an additional 54,885 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after purchasing an additional 120,483 shares during the last quarter. American Century Companies Inc. raised its position in Amalgamated Financial by 6.7% in the third quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock valued at $15,992,000 after purchasing an additional 36,851 shares during the last quarter. Finally, Millennium Management LLC raised its position in Amalgamated Financial by 63.7% in the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after purchasing an additional 203,440 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

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.