Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $709,200.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $47.28, for a total value of $709,200.00. Following the completion of the sale, the insider owned 7,032,971 shares in the company, valued at $332,518,868.88. The trade was a 0.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large 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 Wednesday, September 2nd, States Regional Joint Western sold 44,244 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.19, for a total transaction of $2,132,118.36.
• 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%

Shares of AMAL stock opened at $49.17 on Friday. 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. The firm’s fifty day moving average price is $48.38 and its two-hundred day moving average price is $43.50. The firm has a market capitalization of $1.47 billion, a P/E ratio of 13.11 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts predict that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio is 18.13%.

Institutional Trading of Amalgamated Financial

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC bought a new position in Amalgamated Financial during the second quarter worth $6,459,000. Hsbc Holdings PLC acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth about $2,259,000. Vanguard Group Inc. lifted its stake 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 worth $45,943,000 after buying an additional 49,037 shares during the last quarter. Versor Investments LP bought a new stake in shares of Amalgamated Financial during the 4th quarter worth about $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Amalgamated Financial during the 2nd quarter worth about $1,298,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMAL has been the topic of a number of analyst reports. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. 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. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a report on Thursday. They set an “outperform” rating and a $55.00 target price on the stock. 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 note on Monday, July 27th. 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 stock. According to MarketBeat.com, Amalgamated Financial has an average rating of “Moderate Buy” and a consensus target price of $54.00.

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.