Amalgamated Financial (NASDAQ:AMAL) Stock: Insider States Regional Joint Western Sells 16,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $50.02, for a total transaction of $800,320.00. Following the transaction, the insider owned 6,840,216 shares in the company, valued at approximately $342,147,604.32. This trade represents a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 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 transaction 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 transaction of $10,921,106.56.
• On Friday, September 11th, States Regional Joint Western sold 234,128 shares of Amalgamated Financial stock. The shares were 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 shares were 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 value of $2,083,709.60.
• On Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The stock was 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 value of $2,132,118.36.
• On Tuesday, September 1st, States Regional Joint Western sold 15,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Stock Up 1.9%

AMAL stock opened at $50.82 on Thursday. Amalgamated Financial Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $52.30. The business’s 50-day moving average is $48.21 and its two-hundred day moving average is $44.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 12.38 and a beta of 0.76.

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

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio is 16.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMAL shares. Weiss Ratings downgraded shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 target price for the company. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler increased their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Amalgamated Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Amalgamated Financial during the 2nd quarter valued at about $156,331,000. Congress Asset Management Co. grew its stake in shares of Amalgamated Financial by 22.5% during the 3rd quarter. Congress Asset Management Co. now owns 250,093 shares of the company’s stock valued at $11,897,000 after acquiring an additional 45,855 shares during the period. Bank of America Corp DE bought a new position in shares of Amalgamated Financial during the 2nd quarter valued at approximately $7,771,000. Bank of New York Mellon Corp bought a new position in shares of Amalgamated Financial during the 2nd quarter valued at approximately $6,931,000. Finally, Bessemer Group Inc. increased its holdings in Amalgamated Financial by 46.6% in the 1st quarter. Bessemer Group Inc. now owns 150,263 shares of the company’s stock worth $5,841,000 after acquiring an additional 47,770 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Amalgamated Financial

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: In its latest reported quarter, Amalgamated Financial earned $1.14 per share, above the $1.08 consensus estimate. Revenue was slightly below expectations, limiting the strength of the beat.
• Negative Sentiment: Major shareholder United Workers sold 16,000 shares for about $800,000 on November 3, following sales of 30,000 shares on each of October 30 and November 2. The sales may signal some profit-taking, but each reduced its reported position by less than 0.5%; it retained about 6.84 million shares. Article: Amalgamated Financial Stock: Insider United Workers Sells 16,000 Shares

Amalgamated Financial Company Profile

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.