States Regional Joint Western Sells 10,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 10,000 shares of Amalgamated Financial stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total value of $352,100.00. Following the sale, the insider now directly owns 7,185,816 shares in the company, valued at approximately $253,012,581.36. The trade was a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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 shares were 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 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 Stock Performance

AMAL traded up $0.47 during trading on Thursday, reaching $36.02. 218,553 shares of the company were exchanged, compared to its average volume of 152,763. The stock has a market cap of $1.10 billion, a P/E ratio of 10.65 and a beta of 0.91. The firm has a 50 day moving average of $33.19 and a 200 day moving average of $29.81. 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 52 week low of $20.39 and a 52 week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. The company had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors 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 yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s payout ratio is 14.12%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after purchasing an additional 111,357 shares during the last quarter. American Century Companies Inc. increased its position in Amalgamated Financial by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after purchasing an additional 63,561 shares during the last quarter. Barclays PLC increased its holdings in shares of Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after acquiring an additional 57,008 shares during the last quarter. Seizert Capital Partners LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter valued at about $1,781,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter valued at about $1,612,000. 75.93% of the stock is 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.