Tyrone Graham Sells 3,317 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Tyrone Graham sold 3,317 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.50, for a total transaction of $101,168.50. Following the completion of the transaction, the executive vice president now owns 11,449 shares of the company's stock, valued at $349,194.50. The trade was a 22.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, March 7th, Tyrone Graham sold 869 shares of Amalgamated Financial stock. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL traded up $0.88 during midday trading on Tuesday, reaching $29.21. 104,056 shares of the company were exchanged, compared to its average volume of 239,638. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19. The stock has a market cap of $895.72 million, a P/E ratio of 8.45 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's 50-day moving average price is $33.95 and its 200-day moving average price is $33.70.

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

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Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, February 11th. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.92%. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.23%.

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

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of the business. USA Financial Formulas bought a new stake in shares of Amalgamated Financial in the fourth quarter worth $34,000. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the 4th quarter valued at $38,000. Park Square Financial Group LLC bought a new position in Amalgamated Financial during the fourth quarter worth $41,000. New York State Teachers Retirement System acquired a new position in Amalgamated Financial in the fourth quarter valued at $55,000. Finally, US Bancorp DE grew 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 acquiring an additional 512 shares during the period. Institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.