Sean Searby Sells 3,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Sean Searby sold 3,000 shares of Amalgamated Financial stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the completion of the sale, the executive vice president now owns 17,639 shares of the company's stock, valued at $573,091.11. This represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Amalgamated Financial Price Performance

NASDAQ:AMAL traded down $0.44 on Thursday, reaching $29.87. 221,625 shares of the company's stock traded hands, compared to its average volume of 244,145. The firm has a market cap of $916.08 million, a PE ratio of 8.66 and a beta of 0.93. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $34.23 and a 200-day simple moving average of $33.70. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 11th. Amalgamated Financial's payout ratio is 16.23%.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Amalgamated Financial during the 4th quarter worth approximately $13,093,000. Congress Asset Management Co. purchased a new stake in shares of Amalgamated Financial during the 4th quarter valued at about $5,339,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock valued at $5,083,000 after acquiring an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Amalgamated Financial by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock valued at $17,806,000 after acquiring an additional 89,444 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC bought a new stake in Amalgamated Financial during the fourth quarter worth approximately $2,778,000. 75.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.