Sean Searby Sells 4,948 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 4,948 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $39.42, for a total value of $195,050.16. Following the transaction, the executive vice president owned 23,055 shares in the company, valued at $908,828.10. This represents a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Performance

AMAL opened at $39.40 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.09. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $42.65. The business’s 50 day moving average is $39.11 and its two-hundred day moving average is $33.15. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.55 and a beta of 0.82.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. Amalgamated Financial had a return on equity of 14.60% and a net margin of 23.05%. On average, research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Tuesday, February 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, February 3rd. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s payout ratio is 19.94%.

Analyst Upgrades and Downgrades

AMAL has been the subject of a number of research reports. Piper Sandler began coverage on shares of Amalgamated Financial in a report on Monday, March 16th. They issued a “neutral” rating and a $41.00 target price for the company. Weiss Ratings raised Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Amalgamated Financial presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its stake in shares of Amalgamated Financial by 123.8% during the fourth quarter. Hsbc Holdings PLC now owns 52,596 shares of the company’s stock worth $1,685,000 after purchasing an additional 29,090 shares during the last quarter. Invesco Ltd. grew its position in Amalgamated Financial by 3.1% in the 4th quarter. Invesco Ltd. now owns 41,687 shares of the company’s stock valued at $1,335,000 after buying an additional 1,256 shares during the last quarter. Empowered Funds LLC increased its stake in Amalgamated Financial by 9.3% in the 4th quarter. Empowered Funds LLC now owns 126,644 shares of the company’s stock valued at $4,056,000 after buying an additional 10,759 shares during the period. Janus Henderson Group PLC acquired a new position in Amalgamated Financial in the 4th quarter valued at $209,000. Finally, First Manhattan CO. LLC. raised its position in Amalgamated Financial by 2.3% during the 4th quarter. First Manhattan CO. LLC. now owns 407,025 shares of the company’s stock worth $13,037,000 after buying an additional 9,340 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

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.