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 shares were 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 Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 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 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 transaction 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 shares were 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 transaction 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 transaction 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 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 shares were 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 shares were sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Stock Performance

Amalgamated Financial stock traded down $0.71 during midday trading on Tuesday, hitting $49.89. The stock had a trading volume of 155,330 shares, compared to its average volume of 220,777. The firm’s fifty day moving average is $48.16 and its two-hundred day moving average is $43.98. The company has a market capitalization of $1.49 billion, a PE ratio of 12.26 and a beta of 0.76. Amalgamated Financial Corp. has a 52-week low of $26.61 and a 52-week high of $52.30. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08.

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

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s payout ratio is currently 16.71%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Amalgamated Financial

A number of large investors have recently made changes to their positions in the company. Ethic Inc. grew its holdings in Amalgamated Financial by 217.4% during the 3rd quarter. Ethic Inc. now owns 30,799 shares of the company’s stock valued at $1,465,000 after purchasing an additional 21,094 shares during the last quarter. Abacus Wealth Partners LLC raised its position in Amalgamated Financial by 6.9% in the 3rd quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock worth $2,259,000 after purchasing an additional 3,081 shares during the period. Compass Financial Management LLC raised its position in Amalgamated Financial by 558.3% in the 3rd quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock worth $373,000 after purchasing an additional 6,644 shares during the period. State of Wyoming bought a new stake in Amalgamated Financial in the third quarter worth about $71,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Amalgamated Financial by 72.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 15,766 shares of the company’s stock worth $750,000 after purchasing an additional 6,600 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.