Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells 175,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 175,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the transaction, the insider now directly owns 7,558,575 shares in the company, valued at $281,481,333. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 4th, States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock. The shares were sold at an average price of $32.81, for a total value of $2,067,161.24.
• On Friday, November 1st, States Regional Joint Western sold 25,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $33.08, for a total transaction of $827,000.00.

Amalgamated Financial Trading Down 7.4 %

Shares of AMAL stock traded down $2.81 during mid-day trading on Thursday, hitting $35.32. 287,704 shares of the company’s stock were exchanged, compared to its average volume of 172,819. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 10.39 and a beta of 0.91. Amalgamated Financial Corp. has a fifty-two week low of $18.90 and a fifty-two week high of $38.19. The stock has a 50-day simple moving average of $32.38 and a two-hundred day simple moving average of $29.04.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.53%. The business had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. During the same period in the previous year, the firm posted $0.76 EPS. Equities analysts expect that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s payout ratio is 14.12%.

Hedge Funds Weigh In On Amalgamated Financial

A number of large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Amalgamated Financial by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after acquiring an additional 63,561 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Amalgamated Financial during the 1st quarter worth about $909,000. LSV Asset Management bought a new stake in Amalgamated Financial during the 2nd quarter worth approximately $1,378,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Amalgamated Financial in the 2nd quarter valued at $1,219,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Amalgamated Financial by 63.0% in the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after buying an additional 6,030 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.