Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells 1,327 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 1,327 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $244,196,440.74. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was 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 stock was sold at an average price of $35.72, for a total value of $2,249,324.12.

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock opened at $35.62 on Friday. The business’s 50-day moving average price is $34.55 and its 200-day moving average price is $33.15. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.32 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 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 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%. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

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

Institutional Trading of Amalgamated Financial

Several institutional investors have recently added to or reduced their stakes in AMAL. Raymond James Financial Inc. purchased a new position in shares of Amalgamated Financial in the fourth quarter worth about $2,244,000. Seizert Capital Partners LLC increased its stake in Amalgamated Financial by 98.7% in the 4th quarter. Seizert Capital Partners LLC now owns 112,767 shares of the company’s stock worth $3,774,000 after purchasing an additional 56,004 shares during the period. Victory Capital Management Inc. bought a new stake in Amalgamated Financial in the fourth quarter valued at approximately $804,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Amalgamated Financial by 49.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company’s stock valued at $8,118,000 after purchasing an additional 80,484 shares during the period. Finally, US Bancorp DE boosted its stake 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 purchasing an additional 650 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMAL. Keefe, Bruyette & Woods lifted their target price 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. Piper Sandler raised their price objective 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.

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.