Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 15,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $47.28, for a total transaction of $709,200.00. Following the transaction, the insider owned 7,032,971 shares of the company’s stock, valued at approximately $332,518,868.88. The trade was a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $48.19, for a total value of $2,132,118.36.
• 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 Up 1.7%

Shares of NASDAQ AMAL opened at $48.14 on Thursday. The business has a 50-day moving average of $48.27 and a two-hundred day moving average of $43.41. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year 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.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 EPS 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 business had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. On average, 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. Investors of record on Tuesday, August 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio is 18.13%.

Key Headlines Impacting Amalgamated Financial

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMAL. Empowered Funds LLC purchased a new position in Amalgamated Financial during the second quarter worth $6,459,000. Hsbc Holdings PLC acquired a new stake in Amalgamated Financial in the 2nd quarter worth about $2,259,000. Vanguard Group Inc. boosted its position in shares of Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after acquiring an additional 49,037 shares during the last quarter. Versor Investments LP acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Amalgamated Financial during the second quarter valued at about $1,298,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMAL. Keefe, Bruyette & Woods boosted their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Piper Sandler increased their target price 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. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.