Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 62,971 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 62,971 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $35.72, for a total transaction of $2,249,324.12. Following the completion of the transaction, the insider now owns 7,263,423 shares of the company’s stock, valued at approximately $259,449,469.56. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

States Regional Joint Western also recently made the following trade(s):

• On Monday, November 18th, States Regional Joint Western sold 20,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $35.30, for a total transaction of $706,000.00.
• On Wednesday, November 6th, States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $37.24, for a total value of $6,517,000.00.
• On Monday, November 4th, States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock. The stock was sold at an average price of $32.81, for a total value of $2,067,161.24.
• On Friday, November 1st, States Regional Joint Western sold 25,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $33.08, for a total value of $827,000.00.

Amalgamated Financial Price Performance

NASDAQ AMAL opened at $35.22 on Tuesday. Amalgamated Financial Corp. has a fifty-two week low of $20.39 and a fifty-two week high of $38.19. The stock’s 50-day moving average is $32.98 and its two-hundred day moving average is $29.70. The firm has a market cap of $1.08 billion, a P/E ratio of 10.36 and a beta of 0.91. 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) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same quarter last year, the firm posted $0.76 earnings per share. On average, analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently bought and sold shares of AMAL. CWM LLC lifted its stake in shares of Amalgamated Financial by 679.7% in the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after buying an additional 1,203 shares during the period. US Bancorp DE raised its holdings in Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after acquiring an additional 512 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial during the 1st quarter worth approximately $126,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after purchasing an additional 528 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Amalgamated Financial during the second quarter valued at approximately $213,000. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Company Profile

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.