Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 20,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 20,000 shares of Amalgamated Financial stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.30, for a total transaction of $706,000.00. Following the sale, the insider now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 stock was 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 shares were sold at an average price of $37.24, for a total value of $6,517,000.00.
• On Monday, November 4th, States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock. The stock was 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 Price Performance

NASDAQ AMAL opened at $35.22 on Tuesday. The company has a market cap of $1.08 billion, a PE 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. The firm’s 50 day moving average price is $32.98 and its 200-day moving average price is $29.70.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. The business had revenue of $111.76 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.76 EPS. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.36%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 14.12%.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its position 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 worth $11,748,000 after buying an additional 63,561 shares during the last quarter. Tidal Investments LLC acquired a new stake in Amalgamated Financial in the first quarter valued at approximately $909,000. LSV Asset Management purchased a new position in Amalgamated Financial in the second quarter worth $1,378,000. Deerfield Management Company L.P. Series C purchased a new position in Amalgamated Financial in the second quarter worth $1,219,000. Finally, Lazard Asset Management LLC increased its position in shares of Amalgamated Financial by 63.0% during the first quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after purchasing an additional 6,030 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set 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.