Insider Selling: 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 business’s stock in a transaction 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 transaction, the insider now directly owns 7,185,816 shares of the company’s stock, valued at approximately $253,012,581.36. This trade represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares 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 shares were 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 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 shares were 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 stock was sold at an average price of $33.08, for a total transaction of $827,000.00.

Amalgamated Financial Trading Up 1.4 %

Shares of AMAL stock opened at $36.51 on Friday. The firm’s 50-day simple moving average is $33.43 and its 200-day simple moving average is $29.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 1-year low of $20.39 and a 1-year high of $38.19. The firm has a market cap of $1.12 billion, a P/E ratio of 10.74 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analyst estimates 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 prior year, the business posted $0.76 earnings per share. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of Amalgamated Financial by 679.7% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares in the last quarter. US Bancorp DE lifted its position in Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after buying an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Amalgamated Financial during the second quarter worth approximately $213,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Amalgamated Financial in the third quarter worth $214,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Amalgamated Financial in a 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.