Amalgamated Financial (NASDAQ:AMAL) Stock: Insider States Regional Joint Western Sells 30,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $49.97, for a total value of $1,499,100.00. Following the transaction, the insider directly owned 6,886,216 shares of the company’s stock, valued at $344,104,213.52. This trade represents a 0.43% 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 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 value of $10,921,106.56.
• On Friday, September 11th, States Regional Joint Western sold 234,128 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.88, for a total value 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 value 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 value 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 value 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 value 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 value of $2,132,118.36.
• On Tuesday, September 1st, States Regional Joint Western sold 15,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Price Performance

Shares of AMAL opened at $50.82 on Thursday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 12.38 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. Amalgamated Financial Corp. has a one year low of $26.61 and a one year high of $52.30. The stock’s fifty day moving average is $48.21 and its 200-day moving average is $44.06.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $99.17 million for the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a net margin of 24.57% and a return on equity of 15.00%. Equities analysts anticipate that Amalgamated Financial Corp. will post 4.13 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio is currently 16.71%.

Analyst Ratings Changes

A number of analysts have commented on the stock. 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. Raymond James Financial started coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price target for the company. Piper Sandler increased their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Weiss Ratings lowered shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amalgamated Financial has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds have recently modified their holdings of AMAL. Farther Finance Advisors LLC raised its stake in shares of Amalgamated Financial by 172.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock worth $35,000 after buying an additional 461 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Amalgamated Financial by 81.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock valued at $68,000 after buying an additional 644 shares during the period. Integrated Wealth Concepts LLC bought a new position in Amalgamated Financial during the second quarter valued at about $30,000. First Trust Advisors LP boosted its stake in Amalgamated Financial by 3.2% during the first quarter. First Trust Advisors LP now owns 22,293 shares of the company’s stock valued at $867,000 after buying an additional 685 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Amalgamated Financial by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock valued at $853,000 after buying an additional 751 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Key Amalgamated Financial News

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: In its latest reported quarter, Amalgamated Financial earned $1.14 per share, above the $1.08 consensus estimate. Revenue was slightly below expectations, limiting the strength of the beat.
• Negative Sentiment: Major shareholder United Workers sold 16,000 shares for about $800,000 on November 3, following sales of 30,000 shares on each of October 30 and November 2. The sales may signal some profit-taking, but each reduced its reported position by less than 0.5%; it retained about 6.84 million shares. Article: Amalgamated Financial Stock: Insider United Workers Sells 16,000 Shares

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.