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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 1,327 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total transaction of $45,502.83. Following the completion of the sale, the insider now directly owns 7,121,506 shares of the company’s stock, valued at $244,196,440.74. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large 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, 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 stock was 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 Performance

Amalgamated Financial stock traded up $0.51 during midday trading on Wednesday, reaching $34.69. The stock had a trading volume of 110,388 shares, compared to its average volume of 191,195. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.06 billion, a PE ratio of 10.06 and a beta of 0.92. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19. The firm’s 50-day moving average price is $34.59 and its 200 day moving average price is $33.12.

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

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 11th. Amalgamated Financial’s payout ratio is presently 13.91%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Amalgamated Financial

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in shares of Amalgamated Financial by 28.1% during the fourth quarter. US Bancorp DE now owns 2,962 shares of the company’s stock valued at $99,000 after buying an additional 650 shares during the period. Ieq Capital LLC purchased a new position in Amalgamated Financial during the fourth quarter valued at approximately $241,000. Principal Financial Group Inc. increased its holdings in Amalgamated Financial by 10.0% during the 4th quarter. Principal Financial Group Inc. now owns 18,992 shares of the company’s stock worth $636,000 after acquiring an additional 1,722 shares during the period. Congress Asset Management Co. bought a new position in Amalgamated Financial in the 4th quarter valued at $5,339,000. Finally, New York State Teachers Retirement System bought a new position in Amalgamated Financial in the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.