Amalgamated Financial (NASDAQ:AMAL) EVP Sean Searby Sells 3,314 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 3,314 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $47.75, for a total value of $158,243.50. Following the sale, the executive vice president directly owned 17,466 shares of the company’s stock, valued at $834,001.50. This represents a 15.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Trading Up 1.1%

AMAL stock opened at $47.13 on Friday. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 12.57 and a beta of 0.79. The company has a fifty day moving average price of $48.68 and a two-hundred day moving average price of $44.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Equities analysts anticipate that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is 18.13%.

Analysts Set New Price Targets

AMAL has been the topic of several research reports. Raymond James Financial started coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price on the stock. Piper Sandler boosted their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amalgamated Financial presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new stake in Amalgamated Financial during the second quarter worth approximately $2,259,000. Empowered Funds LLC bought a new stake in shares of Amalgamated Financial during the 2nd quarter valued at $6,459,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Amalgamated Financial during the 2nd quarter valued at $1,298,000. GSA Capital Partners LLP bought a new position in shares of Amalgamated Financial in the second quarter worth $1,905,000. Finally, Avalon Trust Co acquired a new position in Amalgamated Financial in the second quarter valued at about $2,203,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

About Amalgamated Financial

Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.

Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.