Tyrone Graham Sells 2,285 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham sold 2,285 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $39.91, for a total transaction of $91,194.35. Following the completion of the sale, the executive vice president owned 13,443 shares of the company’s stock, valued at approximately $536,510.13. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $38.63 on Wednesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 11.33 and a beta of 0.84. Amalgamated Financial Corp. has a 52-week low of $25.03 and a 52-week high of $42.65. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $36.50 and its 200 day moving average is $31.30.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. Amalgamated Financial had a return on equity of 14.80% and a net margin of 23.05%.The firm had revenue of $87.91 million during the quarter, compared to analyst estimates of $85.37 million. On average, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 3rd. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Amalgamated Financial’s payout ratio is currently 19.94%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $27.00 to $28.00 in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amalgamated Financial in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Amalgamated Financial currently has an average rating of “Hold” and an average target price of $33.50.

Institutional Trading of Amalgamated Financial

Several large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in shares of Amalgamated Financial in the third quarter worth $33,000. Osaic Holdings Inc. lifted its position in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the period. Arax Advisory Partners increased its holdings in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares during the period. CWM LLC raised its stake in shares of Amalgamated Financial by 41.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after purchasing an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

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.