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 firm’s 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 completion of the sale, the insider owned 6,840,216 shares of the company’s stock, valued at approximately $342,147,604.32. This trade represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares 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 shares were sold at an average price of $50.81, for a total value 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 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 stock was 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 stock was 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 shares were 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 shares were 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 stock was sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Stock Down 1.4%

Shares of AMAL stock traded down $0.71 during trading hours on Tuesday, reaching $49.89. 155,330 shares of the company’s stock were exchanged, compared to its average volume of 220,777. Amalgamated Financial Corp. has a 1 year low of $26.61 and a 1 year high of $52.30. The stock has a market cap of $1.49 billion, a PE ratio of 12.26 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $48.16 and its two-hundred day moving average price is $43.98.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $99.17 million for the quarter, compared to the consensus estimate of $99.26 million. Amalgamated Financial had a net margin of 24.57% and a return on equity of 15.00%. Research analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current 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 paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Amalgamated Financial

A number of large investors have recently bought and sold shares of AMAL. Ethic Inc. increased its holdings in Amalgamated Financial by 217.4% in the 3rd quarter. Ethic Inc. now owns 30,799 shares of the company’s stock worth $1,465,000 after buying an additional 21,094 shares during the period. Abacus Wealth Partners LLC lifted its stake in Amalgamated Financial by 6.9% during the 3rd quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock valued at $2,259,000 after acquiring an additional 3,081 shares during the period. Compass Financial Management LLC lifted its stake in Amalgamated Financial by 558.3% during the 3rd quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock valued at $373,000 after acquiring an additional 6,644 shares during the period. State of Wyoming purchased a new stake in shares of Amalgamated Financial in the 3rd quarter valued at $71,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Amalgamated Financial by 72.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 15,766 shares of the company’s stock valued at $750,000 after acquiring an additional 6,600 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

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.