Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 18,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction 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 transaction, the insider now owns 7,167,816 shares in the company, valued at $245,641,054.32. This trade represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s stock 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 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 Trading Down 0.9 %

Shares of NASDAQ AMAL opened at $35.30 on Friday. The business’s 50 day moving average is $34.55 and its two-hundred day moving average is $33.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 1-year low of $21.33 and a 1-year high of $38.19. The stock has a market capitalization of $1.08 billion, a P/E ratio of 10.23 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping 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, research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS 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 dividend of $0.14 per share. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date 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 is currently 16.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMAL. Congress Asset Management Co. bought a new position in Amalgamated Financial in the fourth quarter worth approximately $5,339,000. Charles Schwab Investment Management Inc. grew its stake in 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 purchasing an additional 111,357 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after purchasing an additional 89,444 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new position in Amalgamated Financial in the fourth quarter worth approximately $2,778,000. Finally, Raymond James Financial Inc. bought a new position in Amalgamated Financial in the fourth quarter worth approximately $2,244,000. Institutional investors own 75.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AMAL. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler boosted their price objective 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.