Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder 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 that occurred on Tuesday, September 1st. The stock was sold at an average price of $47.28, for a total value of $709,200.00. Following the completion of the sale, the insider directly owned 7,032,971 shares in the company, valued at approximately $332,518,868.88. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock traded up $0.80 during trading on Wednesday, hitting $48.14. 193,113 shares of the company’s stock traded hands, compared to its average volume of 151,402. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $51.59. The business has a 50-day simple moving average of $48.27 and a 200-day simple moving average of $43.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The stock has a market capitalization of $1.44 billion, a P/E ratio of 12.84 and a beta of 0.79.

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

Amalgamated Financial Dividend Announcement

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

Institutional Trading of Amalgamated Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi purchased a new stake in shares of Amalgamated Financial during the second quarter valued at $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Amalgamated Financial during the second quarter valued at $421,000. California State Teachers Retirement System lifted its stake in Amalgamated Financial by 4,999.4% in the second quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after acquiring an additional 820,708 shares during the period. Compass Financial Management LLC bought a new position in Amalgamated Financial during the 2nd quarter worth about $59,000. Finally, Nwam LLC increased its position in Amalgamated Financial by 57.0% during the 2nd quarter. Nwam LLC now owns 27,204 shares of the company’s stock valued at $1,249,000 after purchasing an additional 9,875 shares during the period. 75.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMAL shares. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods increased their price target on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Piper Sandler boosted their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock 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.