Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $352,100.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 10,000 shares of the firm’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 completion of the sale, the insider now owns 7,185,816 shares of the company’s stock, valued at $253,012,581.36. This represents a 0.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 value of $706,000.00.
• 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 value 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 shares were 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 shares were sold at an average price of $33.08, for a total value of $827,000.00.

Amalgamated Financial Trading Up 1.3 %

AMAL traded up $0.47 during trading on Thursday, reaching $36.02. 218,553 shares of the company’s stock were exchanged, compared to its average volume of 152,763. The company’s fifty day moving average price is $33.19 and its 200-day moving average price is $29.81. The firm has a market capitalization of $1.10 billion, a PE ratio of 10.65 and a beta of 0.91. Amalgamated Financial Corp. has a fifty-two week low of $20.39 and a fifty-two 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.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The company 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 in the previous year, the company posted $0.76 EPS. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s payout ratio is 14.12%.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Amalgamated Financial by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after buying an additional 43,213 shares during the period. State Street Corp increased 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 purchasing an additional 33,095 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 34,109 shares during the period. American Century Companies Inc. lifted its holdings in shares of Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after purchasing an additional 63,561 shares in the last quarter. Finally, Arjuna Capital lifted its stake in Amalgamated Financial by 2.5% in the 2nd quarter. Arjuna Capital now owns 176,180 shares of the company’s stock valued at $4,827,000 after acquiring an additional 4,319 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued 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.