Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sells 3,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 3,000 shares of Amalgamated Financial stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the sale, the executive vice president now directly owns 17,639 shares of the company’s stock, valued at $573,091.11. This represents a 14.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Amalgamated Financial Trading Down 2.8 %

Shares of Amalgamated Financial stock traded down $0.88 during trading on Tuesday, reaching $30.69. 472,144 shares of the stock were exchanged, compared to its average volume of 243,206. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. The firm has a market cap of $941.23 million, a price-to-earnings ratio of 8.90 and a beta of 0.92. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $34.36 and its 200 day moving average is $33.72.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, equities research analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.82%. Amalgamated Financial’s dividend payout ratio is 16.23%.

Wall Street Analysts Forecast Growth

AMAL has been the topic of several analyst reports. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $38.00 in a report on Friday, February 21st. Keefe, Bruyette & Woods boosted their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning raised its holdings in Amalgamated Financial by 24.8% in the third quarter. Creative Planning now owns 14,156 shares of the company’s stock worth $444,000 after purchasing an additional 2,812 shares in the last quarter. US Bancorp DE grew its position in shares of Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares during the period. GSA Capital Partners LLP increased its stake in shares of Amalgamated Financial by 53.0% in the 3rd quarter. GSA Capital Partners LLP now owns 23,448 shares of the company’s stock worth $736,000 after acquiring an additional 8,122 shares in the last quarter. Empowered Funds LLC lifted its position in Amalgamated Financial by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 124,522 shares of the company’s stock valued at $3,906,000 after acquiring an additional 6,298 shares during the period. Finally, Seizert Capital Partners LLC bought a new stake in Amalgamated Financial during the third quarter worth about $1,781,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.