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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 44,244 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $48.19, for a total value of $2,132,118.36. Following the transaction, the insider directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 shares were 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 stock was sold at an average price of $48.12, for a total value of $3,538,504.20.

Amalgamated Financial Stock Up 1.9%

Shares of AMAL opened at $49.04 on Friday. The stock has a 50 day moving average price of $48.33 and a 200 day moving average price of $43.47. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.08 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last announced 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. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. Equities research analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal 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 paid 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 (DPR) is currently 18.13%.

Key Headlines Impacting Amalgamated Financial

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

• Positive Sentiment: Raymond James initiated coverage with an “Outperform” rating and a $55 price target. The target implies roughly 12% upside from the reference price of $49.04 and adds a new bullish voice to the analyst coverage. Raymond James Initiates Amalgamated Financial at Outperform With $55 Price Target
• Positive Sentiment: Zacks upgraded AMAL to Rank #2, or “Buy,” citing greater optimism about the bank holding company’s earnings prospects. The upgrade could support near-term demand for the stock. What Makes Amalgamated Financial AMAL a New Buy Stock
• Positive Sentiment: AMAL’s latest reported quarter exceeded expectations, with earnings of $1.10 per share versus a $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million. Analysts expect approximately $4.06 in full-year EPS, while the company’s quarterly dividend equates to a $0.68 annual payout and a roughly 1.4% yield.
• Neutral Sentiment: The stock remains near its one-year high of $51.59 and above its 200-day moving average of $43.41. Its valuation is approximately 13 times earnings, and the broader analyst consensus is “Moderate Buy” with a target price near $53.50.
• Negative Sentiment: Major shareholders reported multiple sales covering August 31 through September 2. The filings included sales of 73,535 shares, 44,244 shares and 15,000 shares at prices between $47.28 and $48.19. Although the reported reductions were small relative to the holders’ remaining positions of nearly 7 million shares each, continued selling near recent highs could weigh on investor sentiment. SEC ownership filing

Analyst Ratings Changes

A number of research firms have recently issued reports on AMAL. Piper Sandler upped their price target on 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 upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Raymond James Financial started coverage on Amalgamated Financial in a report on Thursday. They issued an “outperform” rating and a $55.00 target price for the company. Finally, Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMAL. BlackRock Inc. acquired a new stake in Amalgamated Financial during the second quarter worth $156,331,000. California State Teachers Retirement System lifted 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 valued at $38,424,000 after purchasing an additional 820,708 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after purchasing an additional 203,440 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Amalgamated Financial during the 2nd quarter worth $7,771,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Amalgamated Financial during the 2nd quarter worth $6,931,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.