States Regional Joint Western Sells 79,649 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 79,649 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $47.91, for a total value of $3,815,983.59. Following the sale, the insider owned 119,133 shares in the company, valued at approximately $5,707,662.03. This represents a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more 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 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 transaction of $3,384,123.60.
• On Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.43, for a total transaction 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 transaction 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 transaction of $709,200.00.
• 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 transaction of $3,538,504.20.

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock traded down $0.66 during trading on Friday, hitting $47.86. 493,525 shares of the company’s stock traded hands, compared to its average volume of 166,743. The company has a market cap of $1.43 billion, a PE ratio of 12.76 and a beta of 0.79. The firm’s fifty day moving average price is $48.54 and its 200 day moving average price is $43.74. Amalgamated Financial Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last posted 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%. Analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were issued a $0.17 dividend. The ex-dividend date of this dividend 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 presently 18.13%.

Institutional Trading of Amalgamated Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in shares of Amalgamated Financial by 11.0% in the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock valued at $100,000 after buying an additional 312 shares during the period. Intech Investment Management LLC raised its stake in Amalgamated Financial by 3.4% during the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after buying an additional 383 shares during the period. Osaic Holdings Inc. raised its stake 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 buying an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Amalgamated Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after acquiring an additional 468 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Amalgamated Financial during the second quarter worth about $30,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Amalgamated Financial Company Profile

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.