Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 234,128 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 234,128 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $47.88, for a total transaction of $11,210,048.64. Following the transaction, the insider owned 399,567 shares in the company, valued at approximately $19,131,267.96. This trade represents a 36.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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, September 14th, States Regional Joint Western sold 228,284 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.84, for a total value of $10,921,106.56.
• On Wednesday, September 9th, States Regional Joint Western sold 79,649 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.91, for a total value of $3,815,983.59.
• 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 Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total value of $3,384,123.60.
• 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 stock was 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 shares were 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 transaction of $3,538,504.20.

Amalgamated Financial Price Performance

Shares of AMAL traded down $0.79 during trading hours on Tuesday, reaching $46.99. The company had a trading volume of 235,460 shares, compared to its average volume of 168,863. 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 12-month low of $25.13 and a 12-month high of $51.59. The firm has a 50 day simple moving average of $48.60 and a 200-day simple moving average of $43.87. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.53 and a beta of 0.79.

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 net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. Research analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were issued a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio is currently 18.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMAL. Integrated Wealth Concepts LLC acquired a new position in Amalgamated Financial in the second quarter valued at $30,000. Royal Bank of Canada raised its position in Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after purchasing an additional 876 shares during the period. Compass Financial Management LLC acquired a new position in shares of Amalgamated Financial during the second quarter worth about $59,000. Parallel Advisors LLC boosted its position in shares of Amalgamated Financial by 42.6% in the first quarter. Parallel Advisors LLC now owns 3,216 shares of the company’s stock worth $125,000 after buying an additional 961 shares during the period. Finally, Arizona State Retirement System acquired a new stake in shares of Amalgamated Financial in the second quarter valued at about $227,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Amalgamated Financial Company Profile

Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.

Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.