Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $2,249,324.12 in Stock

Amalgamated Financial Corp. (NASDAQ:AMALGet Free Report) major shareholder States Regional Joint Western sold 62,971 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $35.72, for a total value of $2,249,324.12. Following the completion of the sale, the insider now directly owns 7,263,423 shares in the company, valued at $259,449,469.56. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 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 transaction of $706,000.00.
  • 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 transaction 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 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 Price Performance

Shares of AMAL stock traded down $0.34 during mid-day trading on Monday, reaching $35.22. The company’s stock had a trading volume of 170,950 shares, compared to its average volume of 152,094. The company has a market cap of $1.08 billion, a P/E ratio of 10.36 and a beta of 0.91. The firm’s 50-day moving average is $32.98 and its two-hundred day moving average is $29.70. Amalgamated Financial Corp. has a 1-year low of $20.39 and a 1-year 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.

Amalgamated Financial (NASDAQ:AMALGet Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. The company had revenue of $111.76 million for the quarter, compared to the consensus estimate of $79.50 million. During the same period in the previous year, the business earned $0.76 earnings per share. On average, research analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

Check Out Our Latest Stock Analysis on AMAL

Institutional Investors Weigh In On Amalgamated Financial

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Amalgamated Financial by 7.7% in the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock worth $15,026,000 after purchasing an additional 34,109 shares in the last quarter. Barclays PLC increased its holdings in shares of 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 purchasing an additional 57,008 shares in the last quarter. Jane Street Group LLC raised its position in Amalgamated Financial by 26.4% in the 3rd quarter. Jane Street Group LLC now owns 29,977 shares of the company’s stock worth $940,000 after purchasing an additional 6,258 shares during the last quarter. State Street Corp lifted its holdings in Amalgamated Financial by 4.9% during the 3rd quarter. State Street Corp now owns 704,868 shares of the company’s stock worth $22,112,000 after buying an additional 33,095 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Amalgamated Financial by 82.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 21,327 shares of the company’s stock valued at $669,000 after buying an additional 9,647 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Amalgamated Financial (NASDAQ:AMAL)

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