Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $1,917,630.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder Regional Joint Board Rochester sold 55,875 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $34.32, for a total value of $1,917,630.00. Following the sale, the insider now directly owns 355,893 shares in the company, valued at $12,214,247.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Regional Joint Board Rochester also recently made the following trade(s):

• On Wednesday, October 30th, Regional Joint Board Rochester sold 47,508 shares of Amalgamated Financial stock. The stock was sold at an average price of $34.00, for a total value of $1,615,272.00.

Amalgamated Financial Stock Down 1.1 %

Shares of NASDAQ:AMAL opened at $33.17 on Friday. Amalgamated Financial Corp. has a 1 year low of $17.64 and a 1 year high of $35.30. The business has a 50 day simple moving average of $32.12 and a two-hundred day simple moving average of $28.56. The firm has a market capitalization of $1.02 billion, a PE ratio of 10.88 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, equities analysts predict that Amalgamated Financial Corp. will post 3.33 EPS for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Amalgamated Financial in the first quarter valued at approximately $126,000. Denali Advisors LLC boosted its holdings in shares of Amalgamated Financial by 91.1% in the first quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock valued at $720,000 after purchasing an additional 14,300 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Amalgamated Financial by 8.7% in the first quarter. Principal Financial Group Inc. now owns 15,883 shares of the company’s stock valued at $381,000 after purchasing an additional 1,265 shares during the period. Empowered Funds LLC boosted its holdings in shares of Amalgamated Financial by 8.1% in the first quarter. Empowered Funds LLC now owns 109,764 shares of the company’s stock valued at $2,634,000 after purchasing an additional 8,225 shares during the period. Finally, ClariVest Asset Management LLC boosted its holdings in shares of Amalgamated Financial by 65.9% in the first quarter. ClariVest Asset Management LLC now owns 66,046 shares of the company’s stock valued at $1,585,000 after purchasing an additional 26,224 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.