Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sells $25,835.37 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Tyrone Graham sold 869 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now directly owns 10,580 shares in the company, valued at approximately $314,543.40. The trade was a 7.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Tyrone Graham also recently made the following trade(s):

• On Wednesday, March 5th, Tyrone Graham sold 3,317 shares of Amalgamated Financial stock. The stock was sold at an average price of $30.50, for a total value of $101,168.50.

Amalgamated Financial Stock Performance

AMAL stock traded up $0.88 during midday trading on Tuesday, hitting $29.21. The stock had a trading volume of 104,056 shares, compared to its average volume of 239,638. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $33.95 and a 200 day simple moving average of $33.70. The firm has a market capitalization of $895.72 million, a price-to-earnings ratio of 8.45 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

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Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.92%. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial's payout ratio is presently 16.23%.

Amalgamated Financial declared that its Board of Directors has initiated a share buyback program on Monday, March 10th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMAL. USA Financial Formulas bought a new stake in Amalgamated Financial in the fourth quarter valued at $34,000. R Squared Ltd bought a new position in Amalgamated Financial in the 4th quarter valued at $38,000. Park Square Financial Group LLC acquired a new position in Amalgamated Financial in the fourth quarter worth $41,000. New York State Teachers Retirement System bought a new stake in shares of Amalgamated Financial during the fourth quarter worth $55,000. Finally, US Bancorp DE increased its stake in shares of Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company's stock valued at $73,000 after buying an additional 512 shares in the last quarter. Institutional investors own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMAL. Keefe, Bruyette & Woods upped their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler lowered shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $38.00 in a research report on Friday, February 21st.

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.