Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham Sells 869 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Tyrone Graham sold 869 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.73, for a total value of $25,835.37. Following the transaction, the executive vice president now directly owns 10,580 shares in the company, valued at $314,543.40. This represents a 7.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 Down 1.3 %

Shares of NASDAQ:AMAL opened at $29.49 on Friday. The stock’s fifty day simple moving average is $34.14 and its 200-day simple moving average is $33.67. Amalgamated Financial Corp. has a 52-week low of $21.33 and a 52-week high of $38.19. The company has a market capitalization of $904.43 million, a P/E ratio of 8.55 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.

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

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.90%. Amalgamated Financial’s dividend payout ratio is currently 16.23%.

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMAL. Creative Planning increased its stake in Amalgamated Financial by 24.8% during the third quarter. Creative Planning now owns 14,156 shares of the company’s stock worth $444,000 after acquiring an additional 2,812 shares during the last quarter. US Bancorp DE grew 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. GSA Capital Partners LLP grew its stake in shares of Amalgamated Financial by 53.0% in the third quarter. GSA Capital Partners LLP now owns 23,448 shares of the company’s stock valued at $736,000 after buying an additional 8,122 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Amalgamated Financial by 5.3% in the third quarter. Empowered Funds LLC now owns 124,522 shares of the company’s stock valued at $3,906,000 after buying an additional 6,298 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Amalgamated Financial in the third quarter valued at about $1,781,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMAL shares. Keefe, Bruyette & Woods upped their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and reduced 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.