Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder States Regional Joint Western sold 92,809 shares of Amalgamated Financial stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $50.86, for a total transaction of $4,720,265.74. Following the sale, the insider directly owned 6,747,407 shares of the company’s stock, valued at $343,173,120.02. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 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 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 value of $800,320.00.
- 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 stock was 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 stock was 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 shares were sold at an average price of $48.19, for a total transaction of $2,132,118.36.
Amalgamated Financial Trading Down 2.9%
AMAL stock opened at $49.36 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of 12.61 and a beta of 0.76. Amalgamated Financial Corp. has a one year low of $26.61 and a one year high of $52.30. The company’s 50 day moving average price is $48.22 and its two-hundred day moving average price is $44.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Amalgamated Financial had a net margin of 24.57% and a return on equity of 14.91%. The company had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. As a group, analysts predict that Amalgamated Financial Corp. will post 4.13 earnings per share for the current fiscal year.
Amalgamated Financial Announces Dividend
The firm 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 $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial’s payout ratio is currently 16.71%.
Institutional Investors Weigh In On Amalgamated Financial
Several institutional investors and hedge funds have recently bought and sold shares of AMAL. R Squared Ltd raised its holdings in shares of Amalgamated Financial by 13.1% during the third quarter. R Squared Ltd now owns 16,214 shares of the company’s stock valued at $771,000 after acquiring an additional 1,880 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Amalgamated Financial by 4.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock valued at $853,000 after purchasing an additional 751 shares during the period. Ethic Inc. increased its position 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 period. Abacus Wealth Partners LLC raised its holdings 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 in the last quarter. Finally, Compass Financial Management LLC raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. 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. 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 lifted their price target on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Raymond James Financial started coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective for the company. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.
View Our Latest Report on Amalgamated Financial
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.
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