Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $1,524,300.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 30,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $50.81, for a total value of $1,524,300.00. Following the completion of the sale, the insider directly owned 6,856,216 shares of the company’s stock, valued at $348,364,334.96. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares 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 stock was sold at an average price of $50.02, for a total value of $800,320.00.
• On Friday, October 30th, States Regional Joint Western sold 30,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.97, for a total value of $1,499,100.00.
• On Monday, September 14th, States Regional Joint Western sold 228,284 shares of Amalgamated Financial stock. The shares were 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 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 shares were 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 shares were 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 Stock Down 2.9%

AMAL stock opened at $49.36 on Friday. Amalgamated Financial Corp. has a twelve month low of $26.61 and a twelve month high of $52.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $48.22 and its 200-day moving average is $44.14. The firm has a market capitalization of $1.47 billion, a PE ratio of 12.61 and a beta of 0.76.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. The company had revenue of $99.17 million for the quarter, compared to analysts’ expectations of $99.26 million. Sell-side analysts expect that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders 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 1.4%. The ex-dividend date of this dividend is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio is presently 16.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings downgraded Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Piper Sandler increased their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Raymond James Financial began coverage on Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Amalgamated Financial currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors have recently added to or reduced their stakes in AMAL. Farther Finance Advisors LLC increased its position in Amalgamated Financial by 172.0% in the third quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock worth $35,000 after buying an additional 461 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Amalgamated Financial by 81.9% during the 3rd 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 last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Amalgamated Financial during the 2nd quarter valued at $30,000. First Trust Advisors LP lifted its position in shares of Amalgamated Financial by 3.2% during the 1st 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Amalgamated Financial by 4.4% during the 3rd 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 during the last quarter. Institutional investors own 75.93% of the company’s stock.

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.