States Regional Joint Western Sells 15,000 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $47.28, for a total value of $709,200.00. Following the sale, the insider owned 7,032,971 shares of the company’s stock, valued at approximately $332,518,868.88. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

States Regional Joint Western also recently made the following trade(s):

• On Wednesday, September 2nd, States Regional Joint Western sold 44,244 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.19, for a total value of $2,132,118.36.
• On Monday, August 31st, States Regional Joint Western sold 73,535 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.12, for a total value of $3,538,504.20.

Amalgamated Financial Price Performance

AMAL stock opened at $49.04 on Friday. The company has a market cap of $1.47 billion, a PE ratio of 13.08 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $48.33 and a two-hundred day moving average price of $43.47. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $51.59.

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

Amalgamated Financial Dividend Announcement

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

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds have recently bought and sold shares of AMAL. Osaic Holdings Inc. increased its holdings in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the last quarter. Compass Financial Management LLC acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $59,000. Arax Advisory Partners boosted its stake in shares of Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after buying an additional 827 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Amalgamated Financial by 143.8% during the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after buying an additional 876 shares during the last quarter. Finally, CWM LLC grew its position in shares of Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after buying an additional 549 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

More Amalgamated Financial News

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Raymond James initiated coverage with an “Outperform” rating and a $55 price target. The target implies roughly 12% upside from the reference price of $49.04 and adds a new bullish voice to the analyst coverage. Raymond James Initiates Amalgamated Financial at Outperform With $55 Price Target
• Positive Sentiment: Zacks upgraded AMAL to Rank #2, or “Buy,” citing greater optimism about the bank holding company’s earnings prospects. The upgrade could support near-term demand for the stock. What Makes Amalgamated Financial AMAL a New Buy Stock
• Positive Sentiment: AMAL’s latest reported quarter exceeded expectations, with earnings of $1.10 per share versus a $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million. Analysts expect approximately $4.06 in full-year EPS, while the company’s quarterly dividend equates to a $0.68 annual payout and a roughly 1.4% yield.
• Neutral Sentiment: The stock remains near its one-year high of $51.59 and above its 200-day moving average of $43.41. Its valuation is approximately 13 times earnings, and the broader analyst consensus is “Moderate Buy” with a target price near $53.50.
• Negative Sentiment: Major shareholders reported multiple sales covering August 31 through September 2. The filings included sales of 73,535 shares, 44,244 shares and 15,000 shares at prices between $47.28 and $48.19. Although the reported reductions were small relative to the holders’ remaining positions of nearly 7 million shares each, continued selling near recent highs could weigh on investor sentiment. SEC ownership filing

Analysts Set New Price Targets

AMAL has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Raymond James Financial began coverage on Amalgamated Financial in a research report on Thursday. They set an “outperform” rating and a $55.00 price target on the stock. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler boosted their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

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.