Amalgamated Financial (NASDAQ:AMAL) Major Shareholder States Regional Joint Western Sells 73,535 Shares

Key Points

• Major shareholder States Regional Joint Western sold 73,535 Amalgamated Financial shares for approximately $3.54 million, reducing its stake by 1.03% to 7.05 million shares. It also sold additional shares in two recent transactions.
• Amalgamated Financial shares rose 1.7% to $48.14, near the stock’s 50-day average, while the company reported quarterly EPS of $1.10 and revenue of $96.1 million, both above analyst expectations.
• The company pays a quarterly dividend of $0.17 per share, equivalent to a 1.4% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $53.50.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder States Regional Joint Western sold 73,535 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $48.12, for a total value of $3,538,504.20. Following the completion of the sale, the insider owned 7,047,971 shares in the company, valued at $339,148,364.52. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% 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 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 transaction of $709,200.00.

Amalgamated Financial Stock Up 1.7%

NASDAQ:AMAL traded up $0.80 on Wednesday, hitting $48.14. 193,113 shares of the company's stock were exchanged, compared to its average volume of 151,402. The firm has a 50-day moving average price of $48.27 and a 200-day moving average price of $43.41. 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 current ratio of 0.64 and a quick ratio of 0.63. The company has a market cap of $1.44 billion, a P/E ratio of 12.84 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced 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. The company had revenue of $96.10 million during the quarter, compared to the consensus estimate 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 expect that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were paid 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 dividend payout ratio (DPR) is presently 18.13%.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. Arax Advisory Partners lifted its stake in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock valued at $41,000 after buying an additional 827 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock valued at $57,000 after buying an additional 876 shares during the last quarter. Compass Financial Management LLC acquired a new position in shares of Amalgamated Financial during the second quarter valued at about $59,000. Finally, CWM LLC increased its position in shares of Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company's stock worth $60,000 after acquiring an additional 549 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analyst Ratings Changes

AMAL has been the topic of several analyst reports. Zacks Research raised shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings raised Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Finally, Piper Sandler upped their price target 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 stock. According to MarketBeat.com, Amalgamated Financial presently has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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