Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 20,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.30, for a total value of $706,000.00. Following the transaction, the insider now directly owns 7,243,423 shares of the company’s stock, valued at $255,692,831.90. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, November 15th, States Regional Joint Western sold 62,971 shares of Amalgamated Financial stock. The shares were sold at an average price of $35.72, for a total value of $2,249,324.12.
• 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 transaction 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 transaction 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 transaction of $827,000.00.

Amalgamated Financial Trading Down 1.0 %

Shares of Amalgamated Financial stock traded down $0.34 on Monday, reaching $35.22. 170,950 shares of the company’s stock were exchanged, compared to its average volume of 152,094. Amalgamated Financial Corp. has a 52 week low of $20.39 and a 52 week high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day moving average is $32.98 and its two-hundred day moving average is $29.70. The company has a market capitalization of $1.08 billion, a P/E ratio of 10.36 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm 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 quarter last year, the company posted $0.76 EPS. Sell-side 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 given a $0.12 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.36%. Amalgamated Financial’s payout ratio is presently 14.12%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and issued 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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Amalgamated Financial during the first quarter worth approximately $126,000. Arjuna Capital increased its stake in shares of Amalgamated Financial by 2.3% during the first quarter. Arjuna Capital now owns 171,861 shares of the company’s stock worth $4,125,000 after purchasing an additional 3,867 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Amalgamated Financial by 63.0% in the first quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after purchasing an additional 6,030 shares in the last quarter. Virtus Investment Advisers Inc. lifted its stake in shares of Amalgamated Financial by 268.8% in the 1st quarter. Virtus Investment Advisers Inc. now owns 23,600 shares of the company’s stock valued at $566,000 after purchasing an additional 17,200 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in Amalgamated Financial in the 1st quarter valued at approximately $909,000. Institutional investors own 75.93% of the company’s stock.

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.