Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 10,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total value of $352,100.00. Following the sale, the insider now directly owns 7,185,816 shares in the company, valued at $253,012,581.36. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares 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 stock was sold at an average price of $35.30, for a total value of $706,000.00.
• 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 value 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 transaction of $2,067,161.24.
• On Friday, November 1st, States Regional Joint Western sold 25,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $33.08, for a total transaction of $827,000.00.

Amalgamated Financial Stock Up 1.4 %

AMAL opened at $36.51 on Friday. The firm has a market cap of $1.12 billion, a P/E ratio of 10.68 and a beta of 0.91. The business’s fifty day simple moving average is $33.31 and its 200 day simple moving average is $29.85. Amalgamated Financial Corp. has a 52 week low of $20.39 and a 52 week high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) 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 analysts’ expectations of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same period last year, the company earned $0.76 EPS. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.31%. Amalgamated Financial’s payout ratio is currently 14.12%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Amalgamated Financial by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after purchasing an additional 43,213 shares during the period. State Street Corp grew its holdings in Amalgamated Financial by 4.9% in the 3rd quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after buying an additional 33,095 shares during the period. Geode Capital Management LLC grew its holdings in Amalgamated Financial by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock valued at $15,026,000 after buying an additional 34,109 shares during the period. American Century Companies Inc. increased its stake in shares of Amalgamated Financial by 17.4% during 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 during the last quarter. Finally, Arjuna Capital lifted its holdings in shares of Amalgamated Financial by 2.5% during the 2nd quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after acquiring an additional 4,319 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a research report 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.