Jason Darby Sells 4,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 4,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $27.02, for a total transaction of $108,080.00. Following the sale, the chief financial officer now directly owns 56,470 shares in the company, valued at $1,525,819.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Amalgamated Financial Stock Down 2.3 %

AMAL opened at $26.27 on Thursday. Amalgamated Financial Corp. has a twelve month low of $15.19 and a twelve month high of $27.77. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $25.27 and a 200 day moving average price of $24.73. The company has a market cap of $801.76 million, a PE ratio of 8.58 and a beta of 0.94.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.34%. The firm had revenue of $107.16 million during the quarter, compared to the consensus estimate of $75.77 million. During the same quarter in the prior year, the firm earned $0.74 EPS. Sell-side analysts expect that Amalgamated Financial Corp. will post 3.1 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $0.12 dividend. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.83%. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

Wall Street Analyst Weigh In

AMAL has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Keefe, Bruyette & Woods lowered their target price on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $29.00 target price (up from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently bought and sold shares of AMAL. Parallel Advisors LLC raised its holdings in Amalgamated Financial by 50.5% in the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock valued at $44,000 after acquiring an additional 548 shares during the last quarter. AJOVista LLC acquired a new stake in Amalgamated Financial in the 4th quarter valued at about $94,000. Allspring Global Investments Holdings LLC acquired a new stake in Amalgamated Financial in the 1st quarter valued at about $126,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Amalgamated Financial by 35.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock valued at $170,000 after acquiring an additional 1,665 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Amalgamated Financial by 20.2% in the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock valued at $267,000 after acquiring an additional 1,667 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

About Amalgamated Financial

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.