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Amalgamated Financial Corp. (NASDAQ:AMAL), a $917 million market cap financial institution, saw a notable transaction as Graham Tyrone, the Executive Vice President and Chief Human Resources Officer, sold shares in two separate transactions. The sales, which were executed under a pre-established Rule 10b5-1 trading plan, amounted to a total value of $127,002. According to InvestingPro data, the stock is currently trading at attractive valuations with a P/E ratio of 8.5x.
The first sale occurred on March 5, involving 3,317 shares at a weighted average price of $30.4996 per share, within a price range of $31.01 to $29.93. The second transaction took place on March 7, with 869 shares sold at $29.73 per share. Following these transactions, Tyrone retains ownership of 10,580 shares of Amalgamated Financial. InvestingPro analysis suggests the stock is currently undervalued, with technical indicators showing oversold conditions.
These transactions are part of routine insider trading activities where company executives buy or sell shares according to pre-arranged plans, often to avoid conflicts of interest. The stock has experienced a notable decline of 9% over the past week, with year-to-date returns down 11.5%. For deeper insights into AMAL’s valuation and technical indicators, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Amalgamated Bank reported better-than-expected financial results for the fourth quarter of 2024, with earnings per share (EPS) of $0.90, surpassing the forecasted $0.78, and revenue of $77.89 million, exceeding the anticipated $76.92 million. Despite these strong earnings, Piper Sandler downgraded Amalgamated Bank’s stock rating from Overweight to Neutral, adjusting the price target to $38.00 due to uncertainties related to recent policy announcements by the Trump Administration. These policies include a proposed freeze on funding for environmental initiatives, which could impact Amalgamated Bank’s operations given its focus on socially responsible banking. The bank also provided its 2025 guidance, projecting core pre-tax pre-provision earnings between $159 million and $163 million, with expectations of two Federal Reserve rate cuts. Amalgamated Bank continues to focus on sustainable lending and technology investments as part of its strategic initiatives. Despite the positive earnings, the stock experienced a decline in pre-market trading, reflecting investor concerns about future growth prospects amid the current policy and market environment.
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