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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 44,244 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $48.19, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Stock Up 1.7%

NASDAQ:AMAL traded up $0.80 during trading hours on Wednesday, reaching $48.14. 193,113 shares of the stock were exchanged, compared to its average volume of 151,402. 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 Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. The stock has a market cap of $1.44 billion, a PE ratio of 12.84 and a beta of 0.79. The firm has a 50 day moving average of $48.27 and a 200 day moving average of $43.41.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. On average, equities analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

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 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio is currently 18.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler raised their price target on Amalgamated Financial from $48.00 to $53.00 and gave the stock 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 research report on Wednesday, August 5th. Zacks Research upgraded 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 target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.50.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in Amalgamated Financial by 11.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock valued at $100,000 after buying an additional 312 shares in the last quarter. Intech Investment Management LLC raised its stake in Amalgamated Financial by 3.4% during the third quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after acquiring an additional 383 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after acquiring an additional 468 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Amalgamated Financial by 41.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares in the last quarter. 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.