Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 234,128 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 234,128 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $47.88, for a total transaction of $11,210,048.64. Following the transaction, the insider directly owned 399,567 shares in the company, valued at approximately $19,131,267.96. The trade was a 36.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 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 Monday, September 14th, States Regional Joint Western sold 228,284 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.84, for a total transaction of $10,921,106.56.
• On Wednesday, September 9th, States Regional Joint Western sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total transaction of $3,815,983.59.
• On Tuesday, September 8th, States Regional Joint Western sold 42,910 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.56, for a total value of $2,083,709.60.
• On Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total value of $3,384,123.60.
• On Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.43, for a total value of $2,207,444.94.
• 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 value of $2,132,118.36.
• 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 shares were sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Stock Down 1.7%

NASDAQ AMAL traded down $0.79 during trading hours on Tuesday, reaching $46.99. 235,460 shares of the company traded hands, compared to its average volume of 168,863. The stock has a market capitalization of $1.41 billion, a PE ratio of 12.53 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 12 month low of $25.13 and a 12 month high of $51.59. The company has a 50 day moving average of $48.60 and a two-hundred day moving average of $43.87.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

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

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new position in shares of Amalgamated Financial during the second quarter worth approximately $2,259,000. Empowered Funds LLC acquired a new position in Amalgamated Financial during the 2nd quarter worth $6,459,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Amalgamated Financial during the 2nd quarter worth $1,298,000. Avalon Trust Co bought a new position in shares of Amalgamated Financial in the second quarter worth $2,203,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Amalgamated Financial during the second quarter valued at $1,905,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMAL has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Raymond James Financial began coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective on the stock. Piper Sandler boosted their target price 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. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Amalgamated Financial Company Profile

Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.

Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.