Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 44,244 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 44,244 shares of the company’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 transaction, the insider owned 6,988,727 shares in the company, valued at approximately $336,786,754.13. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 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 value 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 value of $3,538,504.20.

Amalgamated Financial Stock Performance

NASDAQ:AMAL traded up $0.80 on Wednesday, reaching $48.14. 193,113 shares of the company’s stock were exchanged, compared to its average volume of 151,402. The stock has a fifty day simple moving average of $48.27 and a 200-day simple moving average of $43.41. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week 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. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 12.84 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business 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%. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio (DPR) is 18.13%.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently made changes to their positions in AMAL. BlackRock Inc. bought a new stake in Amalgamated Financial during the 2nd quarter valued at approximately $156,331,000. California State Teachers Retirement System boosted its stake in shares of Amalgamated Financial by 4,999.4% in the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after buying an additional 820,708 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Amalgamated Financial by 63.7% in the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after acquiring an additional 203,440 shares during the period. Bank of America Corp DE purchased a new stake in Amalgamated Financial during the second quarter valued at $7,771,000. Finally, Bank of New York Mellon Corp purchased a new stake in Amalgamated Financial during the second quarter valued at $6,931,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMAL shares. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler boosted 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. 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, Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.50.

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.