States Regional Joint Western Sells 73,535 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 73,535 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $48.12, for a total value of $3,538,504.20. Following the completion of the sale, the insider directly owned 7,047,971 shares of the company’s stock, valued at approximately $339,148,364.52. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 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.

Amalgamated Financial Stock Up 1.7%

NASDAQ:AMAL traded up $0.80 during trading hours on Wednesday, hitting $48.14. 193,113 shares of the company traded hands, compared to its average volume of 151,402. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.44 billion, a PE ratio of 12.84 and a beta of 0.79. The firm’s 50-day simple moving average is $48.27 and its 200-day simple moving average is $43.41. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59.

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

Amalgamated Financial Announces Dividend

The company 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 was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMAL shares. Piper Sandler lifted their price target 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 research note on Wednesday, August 5th. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Keefe, Bruyette & Woods upped their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Institutional Investors Weigh In On Amalgamated Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after purchasing an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Amalgamated Financial by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after purchasing an additional 9,500 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Amalgamated Financial by 373.1% in the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after buying an additional 34,923 shares during the period. Legal & General Group Plc increased its stake in shares of Amalgamated Financial by 11.6% during the second quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock valued at $670,000 after buying an additional 2,231 shares during the period. Finally, Rhumbline Advisers lifted its stake in Amalgamated Financial by 27.9% in the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock worth $1,106,000 after acquiring an additional 7,741 shares during the period. Institutional investors own 75.93% of the company’s stock.

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.