Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Tyrone Graham sold 740 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $25.13, for a total transaction of $18,596.20. Following the transaction, the executive vice president now owns 13,954 shares of the company's stock, valued at $350,664.02. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $29.73, for a total transaction of $25,835.37.
- On Wednesday, March 5th, Tyrone Graham sold 3,317 shares of Amalgamated Financial stock. The shares were sold at an average price of $30.50, for a total transaction of $101,168.50.
Amalgamated Financial Stock Performance
NASDAQ:AMAL opened at $27.25 on Thursday. The firm has a market cap of $836.22 million, a price-to-earnings ratio of 7.90 and a beta of 0.75. Amalgamated Financial Corp. has a 1-year low of $21.33 and a 1-year high of $38.19. The firm's fifty day moving average price is $31.10 and its 200 day moving average price is $33.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.
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 expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.
Amalgamated Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.06%. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.23%.
Amalgamated Financial declared that its Board of Directors has approved a stock buyback program on Monday, March 10th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Institutional Trading of Amalgamated Financial
Institutional investors and hedge funds have recently modified their holdings of the company. USA Financial Formulas bought a new stake in shares of Amalgamated Financial in the fourth quarter worth about $34,000. R Squared Ltd bought a new position in shares of Amalgamated Financial in the 4th quarter valued at $38,000. Park Square Financial Group LLC acquired a new position in Amalgamated Financial during the 4th quarter worth about $41,000. New York State Teachers Retirement System acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at about $55,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Amalgamated Financial during the 4th quarter worth approximately $90,000. 75.93% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Piper Sandler downgraded shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $38.00 in a research report on Friday, February 21st.
Check Out Our Latest Research Report on Amalgamated Financial
Amalgamated Financial Company Profile
(
Get Free Report)
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.
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