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

Amalgamated Financial Corp. (NASDAQ:AMAL) CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the sale, the chief financial officer now owns 56,470 shares in the company, valued at $1,525,819.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Amalgamated Financial Stock Performance

NASDAQ:AMAL traded down $0.04 during mid-day trading on Tuesday, hitting $27.00. The company’s stock had a trading volume of 28,516 shares, compared to its average volume of 133,700. Amalgamated Financial Corp. has a 1 year low of $15.19 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $824.04 million, a price-to-earnings ratio of 8.84 and a beta of 0.94. The business’s fifty day moving average is $25.15 and its two-hundred day moving average is $24.72.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. The firm had revenue of $107.16 million during the quarter, compared to the consensus estimate of $75.77 million. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.34%. During the same quarter in the prior year, the firm earned $0.74 EPS. Analysts anticipate that Amalgamated Financial Corp. will post 3.13 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, May 7th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.10. Amalgamated Financial’s dividend payout ratio (DPR) is currently 15.69%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its stake in Amalgamated Financial by 50.5% in the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock valued at $44,000 after purchasing an additional 548 shares during the period. AJOVista LLC purchased a new stake in shares of Amalgamated Financial in the fourth quarter valued at about $94,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Amalgamated Financial in the first quarter valued at about $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Amalgamated Financial by 35.8% during the fourth 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 in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Amalgamated Financial by 20.2% during the fourth quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after buying an additional 1,667 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Company Profile

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.