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

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 4,000 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 56,470 shares in the company, valued at $1,525,819.40. The sale was disclosed in a filing with the SEC, which is available through this link.

Amalgamated Financial Price Performance

NASDAQ AMAL opened at $26.88 on Wednesday. The company has a market cap of $820.38 million, a PE ratio of 8.78 and a beta of 0.94. The firm’s 50 day moving average price is $25.23 and its 200-day moving average price is $24.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 52-week low of $15.19 and a 52-week high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $107.16 million for the quarter, compared to analysts’ expectations of $75.77 million. Amalgamated Financial had a return on equity of 16.34% and a net margin of 23.22%. During the same quarter last year, the firm earned $0.74 EPS. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.13 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.79%. Amalgamated Financial’s payout ratio is currently 15.69%.

Institutional Trading of Amalgamated Financial

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Amalgamated Financial by 50.5% during the fourth 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 shares of Amalgamated Financial in the 4th quarter worth $94,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial in the 1st quarter worth $126,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Amalgamated Financial by 35.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock worth $170,000 after buying an additional 1,665 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Amalgamated Financial by 20.2% during the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock valued at $267,000 after buying an additional 1,667 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMAL. Keefe, Bruyette & Woods dropped their price objective on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price target on Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research note on Thursday, June 27th.

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.