Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $2,132,118.36 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 44,244 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $48.19, for a total transaction of $2,132,118.36. Following the completion of the sale, the insider owned 6,988,727 shares of the company’s stock, valued at $336,786,754.13. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% 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 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 stock was sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Stock Up 0.3%

Amalgamated Financial stock opened at $49.17 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 13.11 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 fifty-two week low of $25.13 and a fifty-two week high of $51.59. The firm has a fifty day moving average price of $48.38 and a two-hundred day moving average price of $43.50.

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

Amalgamated Financial Announces Dividend

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Amalgamated Financial in the 2nd quarter valued at $156,331,000. Vanguard Group Inc. boosted its position in shares of Amalgamated Financial by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after acquiring an additional 49,037 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amalgamated Financial by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after acquiring an additional 54,885 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after acquiring an additional 120,483 shares during the period. Finally, California State Teachers Retirement System raised its position in Amalgamated Financial by 4,999.4% in the second quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after purchasing an additional 820,708 shares in the last quarter. 75.93% of the stock is owned by institutional investors.

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.