Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells 47,508 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder Regional Joint Board Rochester sold 47,508 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 338,518 shares of the company’s stock, valued at $11,509,612. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large 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 shares were sold at an average price of $34.32, for a total value of $1,917,630.00.

Amalgamated Financial Stock Down 1.4 %

NASDAQ AMAL traded down $0.46 during trading on Wednesday, hitting $33.52. 183,790 shares of the company traded hands, compared to its average volume of 145,319. Amalgamated Financial Corp. has a 12 month low of $17.64 and a 12 month high of $35.30. The business has a fifty day simple moving average of $32.06 and a 200 day simple moving average of $28.53. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.03 billion, a P/E ratio of 10.95 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. The company had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. During the same period last year, the company earned $0.76 earnings per share. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 3.33 EPS for the current year.

Amalgamated Financial Announces Dividend

The business 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.43%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 15.69%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Amalgamated Financial

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

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.