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Sean Searby Sells 2,096 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

kopsource · Mar 2, 2023 07:23

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Rating) EVP Sean Searby sold 2,096 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $23.46, for a total value of $49,172.16. Following the transaction, the executive vice president now directly owns 21,614 shares in the company, valued at approximately $507,064.44. The transaction was disclosed in a filing with the SEC, which is available at this link.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $23.41 on Thursday. Amalgamated Financial Corp. has a 1-year low of $16.25 and a 1-year high of $27.33. The stock's 50-day moving average is $23.26 and its 200 day moving average is $23.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $717.98 million, a P/E ratio of 8.94 and a beta of 0.81.

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Amalgamated Financial (NASDAQ:AMAL – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.10. Amalgamated Financial had a net margin of 28.85% and a return on equity of 16.72%. The business had revenue of $71.57 million for the quarter, compared to analyst estimates of $73.11 million. Research analysts predict that Amalgamated Financial Corp. will post 3.1 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 20th. Shareholders of record on Monday, February 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Friday, February 3rd. Amalgamated Financial's dividend payout ratio (DPR) is presently 15.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMAL. Keefe, Bruyette & Woods dropped their price target on Amalgamated Financial from $32.00 to $29.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 31st. Piper Sandler dropped their price target on Amalgamated Financial from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 20th.

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC purchased a new position in shares of Amalgamated Financial in the 3rd quarter valued at approximately $435,000. Nia Impact Advisors LLC acquired a new stake in shares of Amalgamated Financial during the second quarter worth $642,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Amalgamated Financial during the third quarter valued at $248,000. Brown Advisory Inc. acquired a new position in shares of Amalgamated Financial in the 3rd quarter valued at $21,137,000. Finally, Isthmus Partners LLC lifted its position in Amalgamated Financial by 0.4% during the 2nd quarter. Isthmus Partners LLC now owns 108,008 shares of the company's stock worth $2,136,000 after acquiring an additional 419 shares during the period. Institutional investors and hedge funds own 48.99% of the company's stock.

About Amalgamated Financial

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Amalgamated Financial Corp. operates as a holding company for Amalgamated Bank. It offers commercial and retail banking, investment management, and trust custody segments. The company was founded in 1923 and is headquartered in New York, NY.