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

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

Amalgamated Financial Stock Performance

Shares of AMAL opened at $30.69 on Wednesday. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19. The business’s fifty day simple moving average is $34.36 and its two-hundred day simple moving average is $33.72. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a market cap of $941.23 million, a price-to-earnings ratio of 8.90 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data 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 return on equity of 16.49% and a net margin of 24.50%. Research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on AMAL. Piper Sandler cut Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $38.00 in a research note on Friday, February 21st. Keefe, Bruyette & Woods upped their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Amalgamated Financial by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company’s stock valued at $40,803,000 after buying an additional 31,647 shares during the last quarter. State Street Corp grew its holdings in shares of Amalgamated Financial by 4.9% in the third quarter. State Street Corp now owns 704,868 shares of the company’s stock worth $22,112,000 after acquiring an additional 33,095 shares during the period. JPMorgan Chase & Co. increased its position in Amalgamated Financial by 18.7% during 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 last quarter. American Century Companies Inc. lifted its holdings in Amalgamated Financial by 3.6% in the fourth quarter. American Century Companies Inc. now owns 502,848 shares of the company’s stock valued at $16,830,000 after acquiring an additional 17,410 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Amalgamated Financial by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 480,846 shares of the company’s stock valued at $16,098,000 after acquiring an additional 1,958 shares during the period. 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.