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 dated 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 sale, the insider now owns 7,121,506 shares of the company’s stock, valued at $244,196,440.74. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares 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 shares were 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 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 shares were 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 AMAL opened at $35.30 on Friday. Amalgamated Financial Corp. has a fifty-two week low of $21.33 and a fifty-two week high of $38.19. The company has a market capitalization of $1.08 billion, a PE ratio of 10.23 and a beta of 0.92. The stock has a fifty day moving average of $34.55 and a two-hundred day moving average of $33.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The business 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 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 yield of 1.59%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.23%.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds have recently made changes to their positions in the stock. USA Financial Formulas purchased a new position in shares of Amalgamated Financial in the 4th quarter worth $34,000. R Squared Ltd purchased a new position in shares of Amalgamated Financial in the 4th quarter worth about $38,000. New York State Teachers Retirement System acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at about $55,000. US Bancorp DE grew its holdings in shares of Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after purchasing an additional 512 shares during the period. Finally, CWM LLC increased its position in Amalgamated Financial by 74.9% during the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after purchasing an additional 1,034 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

AMAL has been the topic of a number of recent research reports. Piper Sandler upped their target price 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 lifted their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock 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.