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

by · The Cerbat Gem

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) 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 shares were sold at an average price of $34.32, for a total value of $1,917,630.00. Following the transaction, the insider now directly owns 355,893 shares in the company, valued at approximately $12,214,247.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% 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 shares were sold at an average price of $34.00, for a total value of $1,615,272.00.

Amalgamated Financial Stock Down 1.4 %

AMAL stock traded down $0.46 during trading on Wednesday, reaching $33.52. 183,790 shares of the company traded hands, compared to its average volume of 145,319. Amalgamated Financial Corp. has a 12 month low of $17.64 and a 12 month high of $35.30. The business has a 50 day simple moving average of $32.06 and a 200 day simple moving average of $28.53. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.95 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. The company had revenue of $111.76 million for the quarter, compared to the consensus estimate of $79.50 million. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.33 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 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

Wall Street Analyst Weigh In

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

View Our Latest Stock Report on Amalgamated Financial

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors have recently added to or reduced their stakes in AMAL. Allspring Global Investments Holdings LLC purchased a new position in shares of Amalgamated Financial in the first quarter worth about $126,000. Denali Advisors LLC raised its position in Amalgamated Financial by 91.1% during the first quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock valued at $720,000 after acquiring an additional 14,300 shares in the last quarter. Principal Financial Group Inc. raised its position in Amalgamated Financial by 8.7% during the first quarter. Principal Financial Group Inc. now owns 15,883 shares of the company’s stock valued at $381,000 after acquiring an additional 1,265 shares in the last quarter. Empowered Funds LLC raised its position in Amalgamated Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 109,764 shares of the company’s stock valued at $2,634,000 after acquiring an additional 8,225 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in Amalgamated Financial by 65.9% during the first quarter. ClariVest Asset Management LLC now owns 66,046 shares of the company’s stock valued at $1,585,000 after acquiring an additional 26,224 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

(Get Free Report)

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.

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