Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $45,502.83 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 1,327 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $34.29, for a total value of $45,502.83. Following the completion of the sale, the insider now owns 7,121,506 shares in the company, valued at $244,196,440.74. This represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% 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 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 transaction 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 transaction 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 transaction 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 transaction of $2,249,324.12.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $35.30 on Friday. 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 12 month low of $21.33 and a 12 month high of $38.19. The firm has a market capitalization of $1.08 billion, a PE ratio of 10.23 and a beta of 0.92. The business’s fifty day moving average price is $34.55 and its 200 day moving average price is $33.15.

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, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.14 per share. 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%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.23%.

Institutional Trading of Amalgamated Financial

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Amalgamated Financial by 198.0% during the third quarter. FMR LLC now owns 35,663 shares of the company’s stock worth $1,119,000 after purchasing an additional 23,697 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Amalgamated Financial by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after acquiring an additional 89,444 shares during the period. State Street Corp boosted its holdings in shares of Amalgamated Financial by 4.9% in the third quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after acquiring an additional 33,095 shares in the last quarter. Tidal Investments LLC purchased a new position in Amalgamated Financial during the third quarter worth about $496,000. Finally, Geode Capital Management LLC lifted its position in Amalgamated Financial by 7.7% in the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock valued at $15,026,000 after purchasing an additional 34,109 shares during the period. 75.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMAL has been the topic of several analyst reports. Piper Sandler increased 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 increased their price target on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” 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.