Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $3,384,123.60 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 68,783 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $49.20, for a total value of $3,384,123.60. Following the completion of the sale, the insider owned 228,674 shares in the company, valued at $11,250,760.80. This trade represents a 23.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

States Regional Joint Western also recently made the following trade(s):

• 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 Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The shares were 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 shares were 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 stock was sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Trading Up 1.4%

NASDAQ:AMAL opened at $48.52 on Friday. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week 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 firm’s fifty day moving average is $48.54 and its 200-day moving average is $43.74. The firm has a market cap of $1.45 billion, a P/E ratio of 12.94 and a beta of 0.79.

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

Amalgamated Financial Dividend Announcement

The firm also recently announced 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 was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio is presently 18.13%.

Key Headlines Impacting Amalgamated Financial

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

• Positive Sentiment: Amalgamated Financial’s latest quarterly earnings exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus the $92.09 million forecast. Analysts expect approximately $4.06 in full-year EPS.
• Positive Sentiment: Analyst sentiment remains favorable. The consensus rating is “Moderate Buy” with a $54 target price, while Raymond James initiated coverage with an “outperform” rating and a $55 price objective. Keefe, Bruyette & Woods also raised its target to $54.
• Positive Sentiment: The company continues to pay a quarterly dividend of $0.17, equivalent to $0.68 annually and a yield of about 1.4%.
• Neutral Sentiment: Reported short interest was listed as zero shares with a zero-day short ratio. Because the data showed no change and an invalid percentage calculation, it provides little useful information about trading pressure.
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by roughly 53% and 2.8%, respectively. SEC insider-sale filing
• Negative Sentiment: Major shareholder States Regional Joint Western sold 42,910 shares for approximately $2.08 million on September 8, following several additional sales in late August and early September. The repeated disposals represent millions of dollars in selling and may raise concerns about concentrated-holder supply, even though they do not indicate deteriorating company results. Major shareholder sale report

Institutional Trading of Amalgamated Financial

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Amalgamated Financial during the 2nd quarter valued at approximately $30,000. Osaic Holdings Inc. raised its holdings in shares of Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the period. Arax Advisory Partners raised its holdings in shares of Amalgamated Financial by 187.1% in the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after purchasing an additional 827 shares during the period. Royal Bank of Canada lifted its stake in Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after purchasing an additional 876 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in Amalgamated Financial during the second quarter valued at $59,000. Institutional investors own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note 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. Raymond James Financial assumed coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective on the stock. Piper Sandler increased their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.