Amalgamated Financial (NASDAQ:AMAL) Stock: Insider States Regional Joint Western Sells 30,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 30,000 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $50.81, for a total value of $1,524,300.00. Following the transaction, the insider directly owned 6,856,216 shares in the company, valued at approximately $348,364,334.96. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 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 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 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 value of $1,499,100.00.
• On Monday, September 14th, States Regional Joint Western sold 228,284 shares of Amalgamated Financial stock. The stock was 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 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 shares were 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 stock was 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 transaction of $709,200.00.

Amalgamated Financial Stock Performance

AMAL opened at $50.82 on Thursday. The company has a market cap of $1.52 billion, a P/E ratio of 12.38 and a beta of 0.76. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $48.21 and its 200-day moving average price is $44.06. Amalgamated Financial Corp. has a 52-week low of $26.61 and a 52-week high of $52.30.

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

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.71%.

Institutional Trading of Amalgamated Financial

Several institutional investors and hedge funds have recently bought and sold shares of AMAL. Hsbc Holdings PLC acquired a new stake in Amalgamated Financial during the 2nd quarter worth about $2,259,000. Empowered Funds LLC acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at about $6,459,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at about $1,298,000. GSA Capital Partners LLP acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at about $1,905,000. Finally, Avalon Trust Co purchased a new stake in shares of Amalgamated Financial in the second quarter worth about $2,203,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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

Wall Street Analyst Weigh In

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

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.