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Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Insider Sells 45,155 Shares of Stock

kopsource · Mar 10, 2023 09:06

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Rating) insider Financial Corp. Amalgamated sold 45,155 shares of the company's stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $22.01, for a total value of $993,861.55. Following the transaction, the insider now owns 7,945,195 shares of the company's stock, valued at $174,873,741.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $21.00 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.58 and a quick ratio of 0.58. Amalgamated Financial Corp. has a fifty-two week low of $16.82 and a fifty-two week high of $27.33. The stock's 50-day moving average is $23.17 and its two-hundred day moving average is $23.56. The firm has a market cap of $644.07 million, a P/E ratio of 8.02 and a beta of 0.80.

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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 return on equity of 16.72% and a net margin of 28.85%. The company had revenue of $71.57 million during the quarter, compared to the consensus estimate of $73.11 million. 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 announced a quarterly dividend, which was paid on Monday, February 20th. Investors of record on Monday, February 6th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 3rd. This represents a $0.40 annualized dividend and a yield of 1.90%. Amalgamated Financial's payout ratio is 15.27%.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently modified their holdings of AMAL. Dorsey Wright & Associates bought a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC lifted its position in shares of Amalgamated Financial by 96.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the company's stock worth $25,000 after acquiring an additional 540 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $29,000. Lansing Street Advisors bought a new stake in shares of Amalgamated Financial in the 3rd quarter worth approximately $47,000. Finally, Amalgamated Bank lifted its position in shares of Amalgamated Financial by 31.6% in the 4th quarter. Amalgamated Bank now owns 2,322 shares of the company's stock worth $53,000 after acquiring an additional 557 shares during the period. Institutional investors own 48.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMAL. Piper Sandler reduced their price target on Amalgamated Financial from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Tuesday, December 20th. Keefe, Bruyette & Woods cut their target price 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.

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.