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 stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.30, for a total transaction of $706,000.00. Following the completion of the transaction, the insider now directly owns 7,243,423 shares of the company’s stock, valued at $255,692,831.90. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more 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 transaction 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 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 value of $827,000.00.

Amalgamated Financial Stock Down 1.0 %

NASDAQ:AMAL opened at $35.22 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The company’s fifty day moving average price is $32.98 and its 200-day moving average price is $29.70. Amalgamated Financial Corp. has a 1-year low of $20.39 and a 1-year high of $38.19. The firm 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 announced its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. The company 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 period last year, the firm earned $0.76 EPS. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued 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 payout ratio is presently 14.12%.

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock valued at $5,083,000 after purchasing an additional 111,357 shares in the last quarter. American Century Companies Inc. grew its position in Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after buying an additional 63,561 shares during the period. Barclays PLC increased its holdings in Amalgamated Financial by 91.7% in the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after buying an additional 57,008 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in shares of Amalgamated Financial in the third quarter worth about $1,781,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Amalgamated Financial during the 3rd quarter worth about $1,612,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $35.00 price objective (up 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.