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 company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $47.88, for a total value of $11,210,048.64. Following the completion of the sale, the insider directly owned 399,567 shares in the company, valued at approximately $19,131,267.96. The trade was a 36.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 stock was 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 shares were 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 shares were sold at an average price of $48.56, for a total transaction of $2,083,709.60.
• On Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The stock was 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 stock was 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 stock was 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 shares were 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 Trading Down 1.7%

NASDAQ:AMAL opened at $46.99 on Wednesday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 12.53 and a beta of 0.79. 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 Corp. has a one year low of $25.13 and a one year high of $51.59. The company’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $43.92.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating 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 business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. As a group, analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Wall Street Analyst Weigh In

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

Amalgamated Financial News Summary

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

• Positive Sentiment: Amalgamated Financial’s most recent reported quarterly results were solid, with earnings and revenue exceeding analyst expectations. However, no new earnings or business update was included in the latest news.
• Neutral Sentiment: The SEC filings appear to report matching sales by United Workers and States Regional Joint Western, which may represent related or duplicate beneficial-ownership disclosures. Investors should review the filings to determine the entities’ combined economic exposure. SEC ownership filing
• Negative Sentiment: Major shareholder United Workers disclosed sales of 228,284 Amalgamated Financial shares on September 14 at an average price of $47.84, worth approximately $10.9 million. The sale reduced its reported position by 37.96%, leaving 373,022 shares. United Workers SEC filing
• Negative Sentiment: The same major shareholder also reported selling 234,128 shares on September 11 at an average price of $47.88, generating roughly $11.2 million and cutting its position by 36.95%. CFO and insider sales report
• Negative Sentiment: Separate coverage also reported that Amalgamated Financial’s CFO sold nearly 20,000 shares for more than $960,000. Multiple insider transactions can weigh on sentiment because they increase perceived near-term supply and may signal that insiders view the recent valuation as an opportunity to realize gains. Amalgamated Financial insider selling report

Hedge Funds Weigh In On Amalgamated Financial

A number of hedge funds have recently added to or reduced their stakes in AMAL. Integrated Wealth Concepts LLC purchased a new stake in Amalgamated Financial during the 2nd quarter valued at $30,000. Arizona State Retirement System bought a new stake in shares of Amalgamated Financial in the 2nd quarter worth $227,000. Amundi bought a new stake in shares of Amalgamated Financial in the 2nd quarter worth $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Amalgamated Financial in the second quarter worth $421,000. Finally, Compass Financial Management LLC purchased a new position in shares of Amalgamated Financial in the second quarter worth $59,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

About Amalgamated Financial

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.