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

by · The Markets Daily

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) EVP Sean Searby sold 8,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total transaction of $273,120.00. Following the completion of the transaction, the executive vice president now directly owns 15,802 shares of the company’s stock, valued at $539,480.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Amalgamated Financial Stock Performance

NASDAQ AMAL traded down $0.46 on Wednesday, hitting $33.52. 183,790 shares of the stock were exchanged, compared to its average volume of 145,319. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63. The business’s fifty day moving average is $32.06 and its 200 day moving average is $28.53. Amalgamated Financial Corp. has a 52 week low of $17.64 and a 52 week high of $35.30. The company has a market capitalization of $1.03 billion, a PE ratio of 11.11 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same period in the prior year, the firm posted $0.76 earnings per share. Research analysts anticipate that Amalgamated Financial Corp. will post 3.33 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s payout ratio is presently 15.69%.

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of AMAL. Allspring Global Investments Holdings LLC bought a new position in shares of Amalgamated Financial in the first quarter valued at about $126,000. Denali Advisors LLC increased its position in Amalgamated Financial by 91.1% during the first quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock worth $720,000 after acquiring an additional 14,300 shares during the period. Principal Financial Group Inc. increased its position in Amalgamated Financial by 8.7% during the first quarter. Principal Financial Group Inc. now owns 15,883 shares of the company’s stock worth $381,000 after acquiring an additional 1,265 shares during the period. Empowered Funds LLC increased its position in Amalgamated Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 109,764 shares of the company’s stock worth $2,634,000 after acquiring an additional 8,225 shares during the period. Finally, ClariVest Asset Management LLC increased its position in Amalgamated Financial by 65.9% during the first quarter. ClariVest Asset Management LLC now owns 66,046 shares of the company’s stock worth $1,585,000 after acquiring an additional 26,224 shares during the period. 75.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Read Our Latest Report on Amalgamated Financial

About Amalgamated Financial

(Get Free Report)

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.

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