Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 92,809 Shares of Company Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 92,809 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $50.86, for a total transaction of $4,720,265.74. Following the completion of the sale, the insider directly owned 6,747,407 shares of the company’s stock, valued at $343,173,120.02. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% 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 Tuesday, November 3rd, States Regional Joint Western sold 16,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $50.02, for a total value of $800,320.00.
• On Monday, November 2nd, States Regional Joint Western sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.81, for a total value of $1,524,300.00.
• On Friday, October 30th, States Regional Joint Western sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.97, for a total transaction 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 stock was sold at an average price of $47.88, for a total value of $11,210,048.64.
• On Wednesday, September 9th, States Regional Joint Western sold 79,649 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.91, for a total value of $3,815,983.59.
• On Tuesday, September 8th, States Regional Joint Western sold 42,910 shares of Amalgamated Financial stock. The stock was 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 value of $3,384,123.60.
• On Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The stock was 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 shares were sold at an average price of $48.19, for a total transaction of $2,132,118.36.

Amalgamated Financial Stock Up 0.4%

AMAL stock opened at $49.56 on Friday. Amalgamated Financial Corp. has a 12 month low of $26.61 and a 12 month high of $52.30. The firm has a 50-day moving average of $48.24 and a two-hundred day moving average of $44.21. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.56 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. The firm had revenue of $99.17 million during the quarter, compared to analyst estimates of $99.26 million. As a group, analysts forecast that Amalgamated Financial Corp. will post 4.13 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is 16.71%.

Institutional Investors Weigh In On Amalgamated Financial

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd raised its stake in Amalgamated Financial by 13.1% during the third quarter. R Squared Ltd now owns 16,214 shares of the company’s stock valued at $771,000 after buying an additional 1,880 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Amalgamated Financial by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock worth $853,000 after purchasing an additional 751 shares during the period. Ethic Inc. lifted its stake in Amalgamated Financial by 217.4% in the third quarter. Ethic Inc. now owns 30,799 shares of the company’s stock valued at $1,465,000 after acquiring an additional 21,094 shares during the last quarter. Abacus Wealth Partners LLC lifted its stake in Amalgamated Financial by 6.9% in the third quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock valued at $2,259,000 after buying an additional 3,081 shares during the period. Finally, Compass Financial Management LLC boosted its holdings in shares of Amalgamated Financial by 558.3% during the third quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock worth $373,000 after acquiring an additional 6,644 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

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

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.