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

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder States Regional Joint Western sold 1,327 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 7,121,506 shares of the company's stock, valued at approximately $244,196,440.74. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 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 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 shares were 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 Down 0.9 %

Shares of NASDAQ AMAL traded down $0.32 during midday trading on Friday, hitting $35.30. The company's stock had a trading volume of 142,580 shares, compared to its average volume of 195,611. 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 firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.23 and a beta of 0.92. The business's fifty day simple moving average is $34.55 and its two-hundred day simple moving average is $33.19. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, beating 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, equities analysts predict 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 issued a dividend of $0.14 per share. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.56 annualized dividend and a yield of 1.59%. Amalgamated Financial's dividend payout ratio is 13.91%.

Analyst Upgrades and Downgrades

AMAL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of 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 lifted 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.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth approximately $5,339,000. Charles Schwab Investment Management Inc. increased its position in shares of Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock valued at $5,083,000 after purchasing an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 valued at $17,806,000 after purchasing an additional 89,444 shares in the last quarter. Figure 8 Investment Strategies LLC purchased a new stake in shares of Amalgamated Financial during the 4th quarter worth $2,778,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Amalgamated Financial during the fourth quarter worth $2,244,000. Institutional investors and hedge funds own 75.93% of the company's stock.

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.