Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $2,067,161.24 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $32.81, for a total value of $2,067,161.24. Following the transaction, the insider now directly owns 423,022 shares of the company’s stock, valued at $13,879,351.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $827,000.00.

Amalgamated Financial Price Performance

Amalgamated Financial stock opened at $33.35 on Wednesday. The business has a 50-day simple moving average of $32.22 and a 200 day simple moving average of $28.93. Amalgamated Financial Corp. has a 52 week low of $18.90 and a 52 week high of $35.30. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 9.81 and a beta of 0.91. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data 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 company had revenue of $111.76 million for the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.76 earnings per share. On average, research analysts forecast that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s payout ratio is 14.12%.

Analysts Set New Price Targets

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 Trading of Amalgamated Financial

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after acquiring an additional 63,561 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Amalgamated Financial in the 1st quarter worth about $909,000. LSV Asset Management bought a new position in shares of Amalgamated Financial during the 2nd quarter valued at about $1,378,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Amalgamated Financial during the 2nd quarter valued at about $1,219,000. Finally, Lazard Asset Management LLC lifted its position in Amalgamated Financial by 63.0% in the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after buying an additional 6,030 shares during the last quarter. 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.