Edgar Romney, Jr. Sells 5,992 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) insider Edgar Romney, Jr. sold 5,992 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $47.46, for a total transaction of $284,380.32. Following the completion of the transaction, the insider owned 22,393 shares of the company’s stock, valued at $1,062,771.78. This trade represents a 21.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Down 1.3%

AMAL traded down $0.65 during trading hours on Friday, reaching $47.87. 493,525 shares of the stock traded hands, compared to its average volume of 166,745. The firm’s fifty day simple moving average is $48.54 and its two-hundred day simple moving average is $43.74. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 12.77 and a beta of 0.79. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.59. 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 released its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. As a group, analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Piper Sandler increased their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report 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. 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 initiated coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Amalgamated Financial currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Institutional Trading of Amalgamated Financial

Several large investors have recently added to or reduced their stakes in AMAL. Hsbc Holdings PLC acquired a new position in Amalgamated Financial during the 2nd quarter worth $2,259,000. Empowered Funds LLC bought a new position in shares of Amalgamated Financial in the second quarter worth $6,459,000. Vanguard Group Inc. increased its holdings in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Amalgamated Financial during the second quarter valued at $1,298,000. Finally, Avalon Trust Co bought a new stake in shares of Amalgamated Financial during the second quarter valued at about $2,203,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Amalgamated Financial

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
• Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
• Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
• Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing

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.