Regional Joint Board Rochester Sells 47,508 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder Regional Joint Board Rochester sold 47,508 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $34.00, for a total value of $1,615,272.00. Following the transaction, the insider now owns 338,518 shares in the company, valued at approximately $11,509,612. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Regional Joint Board Rochester also recently made the following trade(s):

• On Monday, October 28th, Regional Joint Board Rochester sold 55,875 shares of Amalgamated Financial stock. The stock was sold at an average price of $34.32, for a total value of $1,917,630.00.

Amalgamated Financial Stock Performance

Shares of AMAL opened at $33.17 on Friday. The stock has a 50-day moving average of $32.12 and a two-hundred day moving average of $28.56. Amalgamated Financial Corp. has a one year low of $17.64 and a one year high of $35.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $1.02 billion, a P/E ratio of 10.88 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, research analysts predict that Amalgamated Financial Corp. will post 3.33 EPS for the current year.

Amalgamated Financial Announces Dividend

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 paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Amalgamated Financial by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after purchasing an additional 43,213 shares in the last quarter. American Century Companies Inc. increased its stake in Amalgamated Financial by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares in the last quarter. Arjuna Capital increased its stake in Amalgamated Financial by 2.5% during the 2nd quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after buying an additional 4,319 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Amalgamated Financial by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after buying an additional 4,555 shares in the last quarter. Finally, Clean Yield Group increased its stake in Amalgamated Financial by 0.9% during the 2nd quarter. Clean Yield Group now owns 144,541 shares of the company’s stock worth $3,960,000 after buying an additional 1,332 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analyst Ratings Changes

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

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.