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 company’s 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 completion of the transaction, the insider now owns 7,167,816 shares of the company’s stock, valued at $245,641,054.32. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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 shares were 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 Stock Performance

Shares of NASDAQ:AMAL opened at $35.62 on Friday. The business’s fifty day moving average price is $34.55 and its two-hundred day moving average price 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. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.32 and a beta of 0.92. Amalgamated Financial Corp. has a fifty-two week low of $21.33 and a fifty-two week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last announced its 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 return on equity of 16.49% and a net margin of 24.50%. As a group, analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal 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 issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 11th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio is presently 13.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler upped their price target on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods upped 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.

Institutional Trading of Amalgamated Financial

Several large investors have recently made changes to their positions in AMAL. Bank of Montreal Can bought a new stake in shares of Amalgamated Financial during the second quarter worth $378,000. Creative Planning bought a new position in Amalgamated Financial in the second quarter valued at about $311,000. SG Americas Securities LLC boosted its holdings in Amalgamated Financial by 25.1% in the third quarter. SG Americas Securities LLC now owns 15,739 shares of the company’s stock valued at $494,000 after acquiring an additional 3,161 shares during the last quarter. CWM LLC boosted its holdings in Amalgamated Financial by 74.9% in the third quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Harrington Investments INC boosted its holdings in Amalgamated Financial by 4.3% in the third quarter. Harrington Investments INC now owns 79,200 shares of the company’s stock valued at $2,485,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

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.