Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $800,320.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 16,000 shares of Amalgamated Financial stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $50.02, for a total value of $800,320.00. Following the completion of the transaction, the insider owned 6,840,216 shares in the company, valued at $342,147,604.32. This trade represents a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 transaction 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 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 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 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 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 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 shares were sold at an average price of $47.28, for a total transaction of $709,200.00.

Amalgamated Financial Price Performance

NASDAQ:AMAL opened at $49.36 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 12.61 and a beta of 0.76. The firm’s fifty day moving average is $48.22 and its two-hundred day moving average 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 Corp. has a one year low of $26.61 and a one year high of $52.30.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. Research analysts expect 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. Investors 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 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.71%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMAL. BlackRock Inc. acquired a new stake in shares of Amalgamated Financial during the second quarter worth about $156,331,000. Congress Asset Management Co. increased its holdings in Amalgamated Financial by 22.5% during the 3rd quarter. Congress Asset Management Co. now owns 250,093 shares of the company’s stock worth $11,897,000 after purchasing an additional 45,855 shares during the period. Bank of America Corp DE acquired a new stake in Amalgamated Financial in the second quarter valued at approximately $7,771,000. Bank of New York Mellon Corp purchased a new position in Amalgamated Financial in the second quarter worth approximately $6,931,000. Finally, Bessemer Group Inc. grew its stake in shares of Amalgamated Financial by 46.6% during the first quarter. Bessemer Group Inc. now owns 150,263 shares of the company’s stock worth $5,841,000 after purchasing an additional 47,770 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMAL. Piper Sandler raised their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings lowered shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Finally, Raymond James Financial started 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. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.