States Regional Joint Western Sells 1,327 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 1,327 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $34.29, for a total transaction of $45,502.83. Following the completion of the transaction, the insider now directly owns 7,121,506 shares in the company, valued at approximately $244,196,440.74. The trade was a 0.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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, February 3rd, States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $34.27, for a total value of $616,860.00.
• On Wednesday, November 20th, States Regional Joint Western sold 10,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $35.21, for a total value of $352,100.00.
• On Monday, November 18th, States Regional Joint Western sold 20,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $35.30, for a total value of $706,000.00.
• On Friday, November 15th, States Regional Joint Western sold 62,971 shares of Amalgamated Financial stock. The stock was sold at an average price of $35.72, for a total transaction of $2,249,324.12.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $35.62 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 10.32 and a beta of 0.92. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19. The firm’s 50-day simple moving average is $34.55 and its two-hundred day simple moving average is $33.15.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a $0.14 dividend. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.57%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 13.91%.

Institutional Trading of Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMAL. Congress Asset Management Co. purchased a new position in Amalgamated Financial in the 4th quarter valued at approximately $5,339,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amalgamated Financial by 219.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after acquiring an additional 111,357 shares during the period. JPMorgan Chase & Co. grew its position in shares of Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock valued at $17,806,000 after purchasing an additional 89,444 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at $2,778,000. Finally, Raymond James Financial Inc. purchased a new stake in Amalgamated Financial during the 4th quarter worth about $2,244,000. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMAL shares. Keefe, Bruyette & Woods boosted their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their target price on Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th.

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.