Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells 18,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder States Regional Joint Western sold 18,000 shares of the firm'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 sale, the insider now directly owns 7,167,816 shares of the company's stock, valued at approximately $245,641,054.32. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares 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 transaction of $45,502.83.
• 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 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 Price Performance

Shares of NASDAQ AMAL traded down $0.32 during trading on Friday, reaching $35.30. The company had a trading volume of 142,580 shares, compared to its average volume of 195,611. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a twelve month low of $21.33 and a twelve month high of $38.19. The stock has a 50-day moving average price of $34.55 and a two-hundred day moving average price of $33.19. The stock has a market capitalization of $1.08 billion, a PE ratio of 10.23 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share 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%. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be given 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 a positive change from Amalgamated Financial's previous quarterly dividend of $0.12. Amalgamated Financial's dividend payout ratio (DPR) is 13.91%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. purchased a new stake in shares of Amalgamated Financial in the fourth quarter valued at $5,339,000. Charles Schwab Investment Management Inc. boosted its stake in Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock worth $5,083,000 after buying an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in 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 buying an additional 89,444 shares during the period. Figure 8 Investment Strategies LLC acquired a new position in shares of Amalgamated Financial during the 4th quarter valued at about $2,778,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Amalgamated Financial during the 4th quarter worth about $2,244,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMAL has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods upped their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a 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.