Sean Searby Sells 8,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sean Searby sold 8,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total value of $273,120.00. Following the completion of the transaction, the executive vice president now directly owns 15,802 shares in the company, valued at $539,480.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $33.17 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. Amalgamated Financial Corp. has a 12-month low of $17.64 and a 12-month high of $35.30. The firm has a fifty day moving average of $32.12 and a 200-day moving average of $28.56. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.88 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, equities research analysts forecast that Amalgamated Financial Corp. will post 3.33 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. Amalgamated Financial’s payout ratio is 15.69%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after acquiring an additional 1,203 shares in the last quarter. US Bancorp DE increased its holdings in Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after purchasing an additional 512 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial in the 1st quarter valued at about $126,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after purchasing an additional 528 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Amalgamated Financial during the second quarter worth about $213,000. Institutional investors 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.