Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $1,917,630.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder Regional Joint Board Rochester sold 55,875 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the transaction, the insider now owns 355,893 shares of the company’s stock, valued at $12,214,247.76. This trade represents a 0.00 % 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. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, October 30th, Regional Joint Board Rochester sold 47,508 shares of Amalgamated Financial stock. The shares were sold at an average price of $34.00, for a total transaction of $1,615,272.00.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $32.84 on Friday. 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 company has a market capitalization of $1.01 billion, a P/E ratio of 9.66 and a beta of 0.92. The company has a fifty day moving average of $32.17 and a 200-day moving average of $28.60. Amalgamated Financial Corp. has a 52-week low of $18.17 and a 52-week high of $35.30.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.53%. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.46 EPS 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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is presently 14.12%.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMAL. Allspring Global Investments Holdings LLC bought a new position in shares of Amalgamated Financial during the first quarter valued at about $126,000. Denali Advisors LLC increased its position in shares of Amalgamated Financial by 91.1% during the first quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock valued at $720,000 after buying an additional 14,300 shares during the period. Principal Financial Group Inc. increased its position in shares of Amalgamated Financial by 8.7% during the first quarter. Principal Financial Group Inc. now owns 15,883 shares of the company’s stock valued at $381,000 after buying an additional 1,265 shares during the period. Empowered Funds LLC increased its position in shares of Amalgamated Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 109,764 shares of the company’s stock valued at $2,634,000 after buying an additional 8,225 shares during the period. Finally, ClariVest Asset Management LLC increased its position in shares of Amalgamated Financial by 65.9% during the first quarter. ClariVest Asset Management LLC now owns 66,046 shares of the company’s stock valued at $1,585,000 after buying an additional 26,224 shares during the period. 75.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a 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.