Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder States Regional Joint Western sold 175,000 shares of the business's stock in a transaction on 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 owns 7,558,575 shares of the company's stock, valued at $281,481,333. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 Monday, November 4th, States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock. The stock was sold at an average price of $32.81, for a total transaction of $2,067,161.24.
- On Friday, November 1st, States Regional Joint Western sold 25,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $33.08, for a total value of $827,000.00.
Amalgamated Financial Price Performance
AMAL stock opened at $35.32 on Friday. 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 Corp. has a 1 year low of $18.90 and a 1 year high of $38.19. The firm has a 50-day moving average of $32.38 and a 200 day moving average of $29.04. The company has a market cap of $1.08 billion, a P/E ratio of 10.39 and a beta of 0.91.
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Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a return on equity of 16.53% and a net margin of 24.19%. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current year.
Amalgamated Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.36%. Amalgamated Financial's dividend payout ratio is currently 14.12%.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.
Check Out Our Latest Stock Report on Amalgamated Financial
Hedge Funds Weigh In On Amalgamated Financial
Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its position in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company's stock valued at $38,000 after acquiring an additional 1,203 shares in the last quarter. US Bancorp DE lifted its position in Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company's stock valued at $73,000 after acquiring an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company's stock valued at $126,000 after purchasing an additional 528 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Amalgamated Financial in the 1st quarter worth $126,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Amalgamated Financial in the second quarter worth $213,000. 75.93% of the stock is currently owned by institutional investors.
About Amalgamated Financial
(
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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