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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 73,535 shares of the stock in a transaction 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 owned 7,047,971 shares in the company, valued at $339,148,364.52. This trade represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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%

AMAL stock opened at $48.14 on Thursday. The company’s 50 day moving average is $48.27 and its 200 day moving average is $43.41. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Sell-side analysts predict that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were issued a $0.17 dividend. 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 is presently 18.13%.

Amalgamated Financial News Roundup

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

• Positive Sentiment: Zacks upgraded AMAL to a Rank #2 (Buy), citing improving optimism around the company’s earnings prospects. The upgrade may provide near-term support for the shares, particularly after Amalgamated Financial’s latest quarterly results exceeded analyst expectations for both earnings and revenue. What Makes Amalgamated Financial AMAL a New Buy Stock
• Neutral Sentiment: AMAL remains financially profitable, with the company’s latest reported quarter showing $1.10 in earnings per share versus a $1.00 consensus estimate and $96.1 million in revenue versus a $92.09 million estimate. Analysts are forecasting approximately $4.06 in full-year EPS, supporting a relatively modest valuation at roughly 12.8 times earnings.
• Negative Sentiment: Major shareholders reported selling shares across August 31, September 1, and September 2. The reported transactions totaled 265,558 shares and approximately $12.76 million when counting the matching filings from United Workers and States Regional Joint Western. Each entity’s reported position fell by about 1.87% across the three sessions, although each still held approximately 6.99 million shares afterward. The sales may weigh on sentiment because they indicate insider-level holders are reducing exposure near recent highs. SEC ownership filing SEC ownership filing

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMAL shares. Piper Sandler increased their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report 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. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMAL. Osaic Holdings Inc. raised its holdings in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after buying an additional 391 shares during the last quarter. Compass Financial Management LLC bought a new stake in Amalgamated Financial in the 2nd quarter worth $59,000. Arax Advisory Partners increased its position in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after acquiring an additional 827 shares during the period. Royal Bank of Canada raised its stake in shares of Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after acquiring an additional 876 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after purchasing an additional 549 shares during the period. Institutional investors own 75.93% of the company’s stock.

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.