Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $1,499,100.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 30,000 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $49.97, for a total value of $1,499,100.00. Following the completion of the transaction, the insider directly owned 6,886,216 shares of the company’s stock, valued at approximately $344,104,213.52. The trade was a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 Tuesday, November 3rd, States Regional Joint Western sold 16,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $50.02, for a total value of $800,320.00.
• On Monday, November 2nd, States Regional Joint Western sold 30,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $50.81, for a total transaction of $1,524,300.00.
• On Monday, September 14th, States Regional Joint Western sold 228,284 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.84, for a total transaction of $10,921,106.56.
• On Friday, September 11th, States Regional Joint Western sold 234,128 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.88, for a total transaction of $11,210,048.64.
• On Wednesday, September 9th, States Regional Joint Western sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total transaction of $3,815,983.59.
• On Tuesday, September 8th, States Regional Joint Western sold 42,910 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.56, for a total transaction of $2,083,709.60.
• On Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60.
• On Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.43, for a total transaction of $2,207,444.94.
• On Wednesday, September 2nd, States Regional Joint Western sold 44,244 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.19, for a total transaction of $2,132,118.36.
• On Tuesday, September 1st, States Regional Joint Western sold 15,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.28, for a total transaction of $709,200.00.

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock traded down $0.71 on Tuesday, hitting $49.89. The company had a trading volume of 155,330 shares, compared to its average volume of 220,777. Amalgamated Financial Corp. has a 52 week low of $26.61 and a 52 week high of $52.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The company has a market cap of $1.49 billion, a PE ratio of 12.26 and a beta of 0.76. The business has a 50-day simple moving average of $48.16 and a 200-day simple moving average of $43.98.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. The firm had revenue of $99.17 million for the quarter, compared to analysts’ expectations of $99.26 million. Research analysts expect that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is 16.71%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Amalgamated Financial in the 2nd quarter worth $156,331,000. Congress Asset Management Co. raised its position in shares of Amalgamated Financial by 22.5% during the third quarter. Congress Asset Management Co. now owns 250,093 shares of the company’s stock worth $11,897,000 after purchasing an additional 45,855 shares during the period. Bank of America Corp DE purchased a new stake in shares of Amalgamated Financial during the second quarter valued at $7,771,000. Bank of New York Mellon Corp purchased a new stake in shares of Amalgamated Financial during the second quarter valued at $6,931,000. Finally, Empowered Funds LLC purchased a new stake in shares of Amalgamated Financial during the second quarter valued at $6,459,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMAL. Piper Sandler lifted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings downgraded shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Finally, Raymond James Financial initiated coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.00.

About Amalgamated Financial

Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.