Tyrone Graham Sells 501 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham sold 501 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $38.88, for a total value of $19,478.88. Following the completion of the sale, the executive vice president owned 15,539 shares of the company’s stock, valued at $604,156.32. The trade was a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tyrone Graham also recently made the following trade(s):

• On Friday, February 20th, Tyrone Graham sold 2,285 shares of Amalgamated Financial stock. The stock was sold at an average price of $39.91, for a total value of $91,194.35.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $37.80 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.09 and a beta of 0.81. Amalgamated Financial Corp. has a 1-year low of $25.03 and a 1-year high of $42.65. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $37.46 and its 200-day simple moving average is $31.84.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share (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 the consensus estimate of $85.37 million. On average, sell-side analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s dividend payout ratio is currently 19.94%.

Institutional Investors Weigh In On Amalgamated Financial

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $27.00 to $28.00 in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Amalgamated Financial has a consensus rating of “Moderate Buy” and an average target price of $33.50.

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.