Amalgamated Financial (NASDAQ:AMAL) EVP Sells 3,314 Shares of Stock

Key Points

• Executive insider sale: EVP Sean Searby sold 3,314 Amalgamated Financial shares for approximately $158,244 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 15.95% to 17,466 shares.
• Financial performance: Amalgamated Financial reported quarterly EPS of $1.10, exceeding the $1.00 analyst consensus, while revenue of $96.1 million also topped estimates. The company pays a quarterly dividend of $0.17, equivalent to a 1.4% annual yield.
• Analyst outlook remains favorable: The stock has a “Moderate Buy” consensus rating, with an average price target of $54 versus a recent price of $47.13. Institutional investors own approximately 75.93% of the company.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Sean Searby sold 3,314 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $47.75, for a total transaction of $158,243.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Performance

AMAL traded up $0.51 during trading on Thursday, reaching $47.13. The company's stock had a trading volume of 250,849 shares, compared to its average volume of 169,836. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $51.59. The company's fifty day moving average price is $48.66 and its 200-day moving average price is $43.97. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.57 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued 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. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. On average, equities analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial's dividend payout ratio (DPR) is 18.13%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new position in Amalgamated Financial during the 2nd quarter valued at about $30,000. Arizona State Retirement System acquired a new position in Amalgamated Financial during the second quarter worth about $227,000. Amundi purchased a new stake in shares of Amalgamated Financial in the second quarter valued at about $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Amalgamated Financial in the second quarter valued at about $421,000. Finally, Compass Financial Management LLC acquired a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $59,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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