Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $6,517,000.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 175,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $37.24, for a total value of $6,517,000.00. Following the completion of the transaction, the insider now directly owns 7,558,575 shares of the company’s stock, valued at approximately $281,481,333. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares 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 4th, States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock. The shares were 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 stock was sold at an average price of $33.08, for a total transaction of $827,000.00.

Amalgamated Financial Stock Performance

Shares of AMAL stock traded down $2.81 during trading hours on Thursday, reaching $35.32. 287,704 shares of the company traded hands, compared to its average volume of 172,819. The company has a market cap of $1.08 billion, a P/E ratio of 10.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a 50-day moving average price of $32.38 and a 200 day moving average price of $29.04. Amalgamated Financial Corp. has a 12-month low of $18.90 and a 12-month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.53% and a net margin of 24.19%. The firm had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same period last year, the business posted $0.76 earnings per share. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors 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 is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 14.12%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its stake in 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 purchasing an additional 1,203 shares in the last quarter. US Bancorp DE grew its stake in Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Amalgamated Financial in the first quarter valued at approximately $126,000. DekaBank Deutsche Girozentrale raised its position 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 valued at $126,000 after buying an additional 528 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Amalgamated Financial during the second quarter worth $213,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

About Amalgamated Financial

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.