Amalgamated Financial (NASDAQ:AMAL) EVP Sean Searby Sells 748 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 748 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $40.02, for a total transaction of $29,934.96. Following the transaction, the executive vice president directly owned 22,307 shares in the company, valued at $892,726.14. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sean Searby also recently made the following trade(s):

• On Wednesday, April 1st, Sean Searby sold 4,948 shares of Amalgamated Financial stock. The stock was sold at an average price of $39.42, for a total transaction of $195,050.16.

Amalgamated Financial Stock Performance

Shares of AMAL traded up $0.12 during mid-day trading on Thursday, hitting $41.62. 14,564 shares of the company’s stock were exchanged, compared to its average volume of 175,850. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $42.65. The stock’s 50-day simple moving average is $39.27 and its 200-day simple moving average is $33.41. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 12.20 and a beta of 0.82. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.09.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, January 22nd. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. The company had revenue of $87.91 million for the quarter, compared to analysts’ expectations of $85.37 million. On average, equities research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current 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 dividend of $0.17 per share. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 3rd. Amalgamated Financial’s payout ratio is 19.94%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Piper Sandler began coverage on shares of Amalgamated Financial in a research note on Monday, March 16th. They issued a “neutral” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in Amalgamated Financial in the third quarter valued at approximately $33,000. Osaic Holdings Inc. increased its stake in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after acquiring an additional 391 shares during the last quarter. Arax Advisory Partners increased its stake in Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after acquiring an additional 827 shares during the last quarter. CWM LLC increased its stake in Amalgamated Financial by 41.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after acquiring an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Amalgamated Financial by 140.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after acquiring an additional 1,177 shares during the last quarter. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Company Profile

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.