Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 62,971 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) 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 stock was sold at an average price of $35.72, for a total value of $2,249,324.12. Following the transaction, the insider now owns 7,263,423 shares of the company’s stock, valued at $259,449,469.56. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were 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 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 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 Stock Down 1.0 %

Amalgamated Financial stock opened at $35.22 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 1-year low of $20.39 and a 1-year high of $38.19. The company has a fifty day simple moving average of $32.98 and a 200 day simple moving average of $29.70. The company has a market cap 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 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million during 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 quarter last year, the company posted $0.76 earnings per share. Research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors 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 dividend on an annualized basis and a yield of 1.36%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated 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.

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Amalgamated Financial by 7.7% during the 3rd 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 during the last quarter. Barclays PLC increased its position in Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after buying an additional 57,008 shares during the period. Jane Street Group LLC lifted its holdings in shares of Amalgamated Financial by 26.4% during the third quarter. Jane Street Group LLC now owns 29,977 shares of the company’s stock worth $940,000 after buying an additional 6,258 shares in the last quarter. State Street Corp boosted its position in shares of Amalgamated Financial by 4.9% in the third quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after acquiring an additional 33,095 shares during the period. Finally, Point72 Asset Management L.P. raised its stake 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 worth $669,000 after purchasing an additional 9,647 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.