Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 16,000 Shares of Company Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 16,000 shares of Amalgamated Financial stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $50.02, for a total value of $800,320.00. Following the sale, the insider directly owned 6,840,216 shares of the company’s stock, valued at $342,147,604.32. This trade represents a 0.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was 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 stock was sold at an average price of $47.88, for a total transaction 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 transaction 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 transaction of $2,083,709.60.
• On Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total transaction 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 transaction 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 transaction of $2,132,118.36.
• On Tuesday, September 1st, States Regional Joint Western sold 15,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.28, for a total transaction of $709,200.00.

Amalgamated Financial Trading Down 1.4%

NASDAQ AMAL opened at $49.89 on Wednesday. Amalgamated Financial Corp. has a 1 year low of $26.61 and a 1 year high of $52.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The company has a market capitalization of $1.49 billion, a PE ratio of 12.26 and a beta of 0.76. The company has a fifty day moving average of $48.16 and a 200 day moving average of $43.98.

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

Amalgamated Financial Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio is presently 16.71%.

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Amalgamated Financial by 172.0% during the third quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock worth $35,000 after purchasing an additional 461 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Amalgamated Financial by 81.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock worth $68,000 after purchasing an additional 644 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Amalgamated Financial in the 2nd quarter valued at about $30,000. First Trust Advisors LP lifted its stake in Amalgamated Financial by 3.2% in the 1st quarter. First Trust Advisors LP now owns 22,293 shares of the company’s stock valued at $867,000 after buying an additional 685 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Amalgamated Financial by 143.8% in the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after buying an additional 876 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Amalgamated Financial

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

• Negative Sentiment: Repeated insider-sale disclosures could weigh on the stock by signaling that large holders are taking some gains, although the sales represent only a small reduction in their positions.

Analyst Upgrades and Downgrades

AMAL has been the subject of several recent research reports. Piper Sandler lifted their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings downgraded Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Keefe, Bruyette & Woods upped their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Raymond James Financial assumed coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Amalgamated Financial 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.