Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) VP Sells 12,316 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMALGet Rating) VP Sam D. Brown sold 12,316 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $19.95, for a total transaction of $245,704.20. Following the completion of the sale, the vice president now directly owns 15,932 shares in the company, valued at approximately $317,843.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ:AMAL traded up $1.01 during trading on Tuesday, reaching $20.96. The stock had a trading volume of 1,177 shares, compared to its average volume of 116,630. The business has a fifty day moving average price of $18.50 and a 200-day moving average price of $17.54. The stock has a market cap of $646.62 million, a P/E ratio of 11.47 and a beta of 0.77. Amalgamated Financial Corp. has a fifty-two week low of $13.48 and a fifty-two week high of $20.63.

Amalgamated Financial (NASDAQ:AMALGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.39 by $0.06. The company had revenue of $55.79 million for the quarter, compared to analyst estimates of $52.50 million. During the same period last year, the company posted $0.41 EPS. Equities analysts anticipate that Amalgamated Financial Corp. will post 2.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, May 10th. Amalgamated Financial’s dividend payout ratio (DPR) is 18.39%.

A number of hedge funds have recently modified their holdings of AMAL. First Manhattan Co. increased its position in Amalgamated Financial by 139.9% during the third quarter. First Manhattan Co. now owns 316,644 shares of the company’s stock worth $5,009,000 after purchasing an additional 184,663 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Amalgamated Financial by 37.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 330,298 shares of the company’s stock worth $5,932,000 after purchasing an additional 90,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Amalgamated Financial in the fourth quarter worth $827,000. Dimensional Fund Advisors LP increased its position in shares of Amalgamated Financial by 216.3% in the third quarter. Dimensional Fund Advisors LP now owns 71,083 shares of the company’s stock worth $1,125,000 after acquiring an additional 48,608 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Amalgamated Financial by 15.4% in the first quarter. JPMorgan Chase & Co. now owns 354,255 shares of the company’s stock worth $6,366,000 after acquiring an additional 47,214 shares in the last quarter. 37.25% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Amalgamated Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, May 2nd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.25.

About Amalgamated Financial (Get Rating)

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.

Recommended Stories

Insider Buying and Selling by Quarter for Amalgamated Financial (NASDAQ:AMAL)

Receive News & Ratings for Amalgamated Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amalgamated Financial and related companies with MarketBeat.com's FREE daily email newsletter.