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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 62,971 shares of Amalgamated Financial stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $35.72, for a total value of $2,249,324.12. Following the sale, the insider now directly owns 7,263,423 shares in the company, valued at $259,449,469.56. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $35.30, for a total value of $706,000.00.
• On Wednesday, November 6th, States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock. The stock was 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 stock was sold at an average price of $33.08, for a total value of $827,000.00.

Amalgamated Financial Price Performance

Shares of AMAL opened at $35.15 on Wednesday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.34 and a beta of 0.91. The business has a 50-day moving average of $33.08 and a 200-day moving average of $29.77. 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 Corp. has a 1 year low of $20.39 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.00% and a net margin of 24.19%. During the same period in the previous year, the company posted $0.76 earnings per share. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. Amalgamated Financial’s payout ratio is currently 14.12%.

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its holdings in shares of Amalgamated Financial by 1.3% during the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after acquiring an additional 393 shares in the last quarter. US Bancorp DE boosted its position in shares of Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after buying an additional 512 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Amalgamated Financial by 12.3% during the second 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 last quarter. Panagora Asset Management Inc. boosted its position in shares of Amalgamated Financial by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after buying an additional 616 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of Amalgamated Financial by 6.9% during the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after buying an additional 646 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

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

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.