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 the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $35.72, for a total transaction of $2,249,324.12. Following the completion of the transaction, the insider now directly owns 7,263,423 shares in the company, valued at $259,449,469.56. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 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 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 transaction of $6,517,000.00.
• On Monday, November 4th, States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock. The shares were 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 transaction of $827,000.00.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded down $0.34 during trading hours on Monday, reaching $35.22. 170,950 shares of the stock were exchanged, compared to its average volume of 152,094. The stock’s fifty day simple moving average is $32.98 and its 200 day simple moving average is $29.70. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.36 and a beta of 0.91. 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.

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, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million for 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 in the prior year, the business posted $0.76 earnings per share. Sell-side analysts predict that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Dividend Announcement

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 given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is presently 14.12%.

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds have recently modified their holdings of AMAL. Charles Schwab Investment Management Inc. lifted its holdings in Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after buying an additional 111,357 shares during the period. American Century Companies Inc. increased its stake in shares of Amalgamated Financial by 17.4% in the 2nd 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 in the last quarter. Barclays PLC raised its holdings in shares of Amalgamated Financial by 91.7% during the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after purchasing an additional 57,008 shares during the period. Seizert Capital Partners LLC bought a new stake in Amalgamated Financial in the 3rd quarter valued at about $1,781,000. Finally, Segall Bryant & Hamill LLC bought a new position in Amalgamated Financial in the third quarter worth approximately $1,612,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Amalgamated Financial in a research note 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.