Amalgamated Financial (NASDAQ:AMAL) CFO Jason Darby Sells 19,995 Shares

by · The Markets Daily

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) CFO Jason Darby sold 19,995 shares of Amalgamated Financial stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $48.10, for a total transaction of $961,759.50. Following the completion of the transaction, the chief financial officer owned 53,851 shares in the company, valued at approximately $2,590,233.10. This trade represents a 27.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Darby also recently made the following trade(s):

  • On Wednesday, September 2nd, Jason Darby sold 1 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.20, for a total value of $48.20.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded down $0.65 on Friday, reaching $47.87. 493,525 shares of the company traded hands, compared to its average volume of 166,745. The stock has a market capitalization of $1.43 billion, a PE ratio of 12.77 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The company’s 50 day moving average is $48.54 and its 200-day moving average is $43.74. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.59.

Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. As a group, analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target on the stock. Piper Sandler upped their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Amalgamated Financial presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Check Out Our Latest Stock Analysis on AMAL

Key Amalgamated Financial News

Here are the key news stories impacting Amalgamated Financial this week:

  • Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
  • Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
  • Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
  • Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
  • Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
  • Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing

Hedge Funds Weigh In On Amalgamated Financial

A number of hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in Amalgamated Financial in the second quarter valued at about $30,000. Osaic Holdings Inc. increased its position in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the last quarter. Arax Advisory Partners raised its stake in shares of Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after purchasing an additional 827 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Amalgamated Financial by 143.8% during the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock worth $57,000 after purchasing an additional 876 shares in the last quarter. Finally, Compass Financial Management LLC acquired a new stake in shares of Amalgamated Financial during the 2nd quarter valued at about $59,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Company Profile

(Get Free Report)

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.

Featured Articles