States Regional Joint Western Sells 18,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) 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 stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the completion of the transaction, the insider now directly owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 stock was 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 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 Trading Up 1.5 %

Amalgamated Financial stock opened at $34.69 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s 50 day moving average price is $34.56 and its 200-day moving average price is $33.13. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. The stock has a market cap of $1.06 billion, a P/E ratio of 10.06 and a beta of 0.92.

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

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, February 11th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio (DPR) is currently 13.91%.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently modified their holdings of the company. 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 valued at $73,000 after purchasing an additional 512 shares in the last quarter. USA Financial Formulas bought a new position in Amalgamated Financial during the fourth quarter valued at $34,000. CWM LLC grew its stake in shares of Amalgamated Financial by 74.9% in the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after buying an additional 1,034 shares in the last quarter. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the 4th quarter worth about $38,000. Finally, Martingale Asset Management L P raised its position in shares of Amalgamated Financial by 2.0% during the 3rd quarter. Martingale Asset Management L P now owns 72,873 shares of the company’s stock valued at $2,286,000 after buying an additional 1,450 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Piper Sandler raised their target price on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods raised their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report 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.