Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $616,860.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the completion of the transaction, the insider now owns 7,167,816 shares of the company’s stock, valued at approximately $245,641,054.32. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Wednesday, February 5th, States Regional Joint Western sold 1,327 shares of Amalgamated Financial stock. The shares were sold at an average price of $34.29, for a total value of $45,502.83.
• 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 shares were sold at an average price of $35.72, for a total value of $2,249,324.12.

Amalgamated Financial Stock Down 0.9 %

Shares of NASDAQ:AMAL opened at $35.30 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.23 and a beta of 0.92. The stock has a fifty day simple moving average of $34.55 and a two-hundred day simple moving average of $33.15. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.14 dividend. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.59%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.23%.

Institutional Trading of Amalgamated Financial

A number of institutional investors and hedge funds have recently modified their holdings of AMAL. US Bancorp DE grew its holdings in shares of Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after acquiring an additional 512 shares during the period. USA Financial Formulas bought a new stake in shares of Amalgamated Financial in the fourth quarter worth $34,000. CWM LLC grew its holdings in shares of Amalgamated Financial by 74.9% in the third quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after acquiring an additional 1,034 shares during the period. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the fourth quarter worth $38,000. Finally, Martingale Asset Management L P grew its holdings in shares of Amalgamated Financial by 2.0% in the third quarter. Martingale Asset Management L P now owns 72,873 shares of the company’s stock worth $2,286,000 after acquiring an additional 1,450 shares during the period. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

About Amalgamated Financial

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.