Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder States Regional Joint Western sold 16,000 shares of the business’s 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 completion of the sale, the insider owned 6,840,216 shares in the company, valued at $342,147,604.32. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 shares were 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 transaction of $2,207,444.94.
- On Wednesday, September 2nd, States Regional Joint Western sold 44,244 shares of Amalgamated Financial stock. The shares were 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 Price Performance
AMAL traded down $0.71 during trading hours on Tuesday, hitting $49.89. The company’s stock had a trading volume of 155,330 shares, compared to its average volume of 220,777. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 12.26 and a beta of 0.76. The business’s 50-day moving average price is $48.16 and its 200-day moving average price is $43.98. 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 Corp. has a 12 month low of $26.61 and a 12 month high of $52.30.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last released 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 net margin of 24.57% and a return on equity of 15.00%. The business had revenue of $99.17 million during the quarter, compared to analyst estimates of $99.26 million. Sell-side analysts expect that Amalgamated Financial Corp. will post 4.13 earnings per share for the current fiscal year.
Amalgamated Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio is currently 16.71%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of AMAL. Ethic Inc. raised its holdings in shares of Amalgamated Financial by 217.4% in 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 in the last quarter. Abacus Wealth Partners LLC lifted its position in shares of Amalgamated Financial by 6.9% during the third quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock valued at $2,259,000 after buying an additional 3,081 shares during the last quarter. Compass Financial Management LLC lifted its position in shares of Amalgamated Financial by 558.3% during the third quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock valued at $373,000 after buying an additional 6,644 shares during the last quarter. State of Wyoming bought a new stake in shares of Amalgamated Financial in the 3rd quarter valued at about $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 buying an additional 6,600 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on the company. Weiss Ratings lowered Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. 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. Raymond James Financial assumed coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective on the stock. Finally, 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.
Check Out Our Latest Stock Report on AMAL
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.
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