Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 68,783 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 68,783 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60. Following the completion of the sale, the insider directly owned 228,674 shares in the company, valued at approximately $11,250,760.80. This represents a 23.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Tuesday, September 8th, States Regional Joint Western sold 42,910 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.56, for a total value of $2,083,709.60.
• On Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.43, for a total value of $2,207,444.94.
• On Wednesday, September 2nd, States Regional Joint Western sold 44,244 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.19, for a total value of $2,132,118.36.
• On Tuesday, September 1st, States Regional Joint Western sold 15,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.28, for a total value of $709,200.00.
• On Monday, August 31st, States Regional Joint Western sold 73,535 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.12, for a total value of $3,538,504.20.

Amalgamated Financial Trading Down 1.9%

AMAL stock traded down $0.95 during trading on Tuesday, hitting $48.22. The company had a trading volume of 242,943 shares, compared to its average volume of 164,061. The stock has a market cap of $1.44 billion, a PE ratio of 12.86 and a beta of 0.79. The business has a 50-day moving average of $48.43 and a 200-day moving average of $43.58. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The firm had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Research analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio is 18.13%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMAL. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Raymond James Financial initiated coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler upped their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in Amalgamated Financial in the second quarter worth $2,259,000. Empowered Funds LLC acquired a new position in shares of Amalgamated Financial during the second quarter valued at about $6,459,000. Vanguard Group Inc. boosted its position in shares of Amalgamated Financial by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after purchasing an additional 49,037 shares in the last quarter. Versor Investments LP bought a new position in shares of Amalgamated Financial during the 4th quarter worth about $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Amalgamated Financial during the 2nd quarter worth about $1,298,000. 75.93% of the stock is owned by institutional investors.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.