Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sells $18,596.20 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham sold 740 shares of Amalgamated Financial stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $25.13, for a total value of $18,596.20. Following the sale, the executive vice president now owns 13,954 shares of the company’s stock, valued at approximately $350,664.02. This represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tyrone Graham also recently made the following trade(s):

• On Friday, March 7th, Tyrone Graham sold 869 shares of Amalgamated Financial stock. The stock was sold at an average price of $29.73, for a total transaction of $25,835.37.
• On Wednesday, March 5th, Tyrone Graham sold 3,317 shares of Amalgamated Financial stock. The shares were sold at an average price of $30.50, for a total transaction of $101,168.50.

Amalgamated Financial Stock Down 1.0 %

AMAL opened at $25.99 on Friday. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19. The business has a 50-day moving average of $30.78 and a two-hundred day moving average of $33.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $797.56 million, a price-to-earnings ratio of 7.53 and a beta of 0.75.

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

Amalgamated Financial Increases Dividend

The firm also recently announced 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 positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. This represents a $0.56 annualized dividend and a dividend yield of 2.15%. Amalgamated Financial’s payout ratio is presently 16.23%.

Amalgamated Financial declared that its Board of Directors has authorized a stock repurchase plan on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Hedge Funds Weigh In On Amalgamated Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Amalgamated Financial by 198.0% in the third quarter. FMR LLC now owns 35,663 shares of the company’s stock worth $1,119,000 after purchasing an additional 23,697 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Amalgamated Financial in the fourth quarter worth about $469,000. JPMorgan Chase & Co. boosted its stake in Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock valued at $17,806,000 after acquiring an additional 89,444 shares during the period. State Street Corp grew its holdings in shares of Amalgamated Financial by 4.9% during the third quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after purchasing an additional 33,095 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of Amalgamated Financial during the 3rd quarter worth approximately $496,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.