Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Regional Joint Board Rochester Sells 55,875 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder Regional Joint Board Rochester sold 55,875 shares of the firm’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 transaction of $1,917,630.00. Following the sale, the insider now owns 355,893 shares in the company, valued at approximately $12,214,247.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 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 stock was sold at an average price of $34.00, for a total transaction of $1,615,272.00.

Amalgamated Financial Stock Down 1.4 %

Shares of AMAL opened at $33.52 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of 10.95 and a beta of 0.92. The company’s fifty day moving average is $32.06 and its two-hundred day moving average is $28.53. Amalgamated Financial Corp. has a fifty-two week low of $17.64 and a fifty-two week high of $35.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results 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. The company had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same quarter last year, the business earned $0.76 EPS. Analysts forecast that Amalgamated Financial Corp. will post 3.33 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business 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. 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 1.43%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Hedge Funds Weigh In On Amalgamated Financial

A number of hedge funds have recently made changes to their positions in AMAL. CWM LLC boosted its holdings in shares of Amalgamated Financial by 679.7% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares during the last quarter. US Bancorp DE raised its stake in shares of 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 during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Amalgamated Financial in the 1st quarter valued at $126,000. DekaBank Deutsche Girozentrale raised its stake in shares of Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after acquiring an additional 528 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Amalgamated Financial in the 2nd quarter valued at $213,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a research 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.