Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 228,284 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder States Regional Joint Western sold 228,284 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $47.84, for a total value of $10,921,106.56. Following the completion of the sale, the insider owned 373,022 shares of the company’s stock, valued at $17,845,372.48. The trade was a 37.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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 Friday, September 11th, States Regional Joint Western sold 234,128 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.88, for a total value of $11,210,048.64.
• On Wednesday, September 9th, States Regional Joint Western sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total value of $3,815,983.59.
• On Tuesday, September 8th, States Regional Joint Western sold 42,910 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.56, for a total value of $2,083,709.60.
• On Friday, September 4th, States Regional Joint Western sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total value of $3,384,123.60.
• On Thursday, September 3rd, States Regional Joint Western sold 44,658 shares of Amalgamated Financial stock. The stock was 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 stock was sold at an average price of $48.19, for a total transaction 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 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 transaction of $3,538,504.20.

Amalgamated Financial Trading Down 1.7%

Shares of Amalgamated Financial stock opened at $46.99 on Wednesday. The stock has a 50 day moving average price of $48.63 and a two-hundred day moving average price of $43.92. 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 stock has a market capitalization of $1.41 billion, a PE ratio of 12.53 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 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

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

Wall Street Analyst Weigh In

AMAL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Raymond James Financial began coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price for the company. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Piper Sandler lifted their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Institutional Investors Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Amalgamated Financial during the second quarter valued at about $156,331,000. Bank of America Corp DE bought a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $7,771,000. Bank of New York Mellon Corp bought a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $6,931,000. Bessemer Group Inc. lifted its stake in shares of Amalgamated Financial by 46.6% during the 1st quarter. Bessemer Group Inc. now owns 150,263 shares of the company’s stock valued at $5,841,000 after buying an additional 47,770 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Amalgamated Financial in the 2nd quarter worth approximately $6,459,000. 75.93% of the stock is currently owned by institutional investors.

More Amalgamated Financial News

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

• Positive Sentiment: Amalgamated Financial’s most recent reported quarterly results were solid, with earnings and revenue exceeding analyst expectations. However, no new earnings or business update was included in the latest news.
• Neutral Sentiment: The SEC filings appear to report matching sales by United Workers and States Regional Joint Western, which may represent related or duplicate beneficial-ownership disclosures. Investors should review the filings to determine the entities’ combined economic exposure. SEC ownership filing
• Negative Sentiment: Major shareholder United Workers disclosed sales of 228,284 Amalgamated Financial shares on September 14 at an average price of $47.84, worth approximately $10.9 million. The sale reduced its reported position by 37.96%, leaving 373,022 shares. United Workers SEC filing
• Negative Sentiment: The same major shareholder also reported selling 234,128 shares on September 11 at an average price of $47.88, generating roughly $11.2 million and cutting its position by 36.95%. CFO and insider sales report
• Negative Sentiment: Separate coverage also reported that Amalgamated Financial’s CFO sold nearly 20,000 shares for more than $960,000. Multiple insider transactions can weigh on sentiment because they increase perceived near-term supply and may signal that insiders view the recent valuation as an opportunity to realize gains. Amalgamated Financial insider selling report

Amalgamated Financial Company Profile

Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.

Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.