States Regional Joint Western Sells 15,000 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Key Points

• Major shareholder States Regional Joint Western sold 15,000 Amalgamated Financial shares at an average price of $47.28, totaling $709,200. The sale reduced its stake by 0.21%, leaving it with 7.03 million shares; it also sold additional shares in nearby transactions.
• Amalgamated Financial shares traded at $48.14, near their 52-week high, with a market capitalization of approximately $1.44 billion. The company recently exceeded quarterly earnings expectations, reporting EPS of $1.10 versus the $1.00 consensus estimate.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $53.50, while the company pays a quarterly dividend of $0.17 per share, equivalent to a 1.4% annual yield.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder States Regional Joint Western sold 15,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $47.28, for a total transaction of $709,200.00. Following the completion of the transaction, the insider owned 7,032,971 shares in the company, valued at approximately $332,518,868.88. This trade represents a 0.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 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 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 value of $2,132,118.36.
• 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 value of $3,538,504.20.

Amalgamated Financial Stock Performance

AMAL traded up $0.80 during trading on Wednesday, hitting $48.14. The stock had a trading volume of 193,113 shares, 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. The company 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 one year low of $25.13 and a one year high of $51.59. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The company had revenue of $96.10 million during the quarter, compared to analysts' expectations of $92.09 million. As a group, research analysts predict that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, August 4th. Amalgamated Financial's dividend payout ratio (DPR) is 18.13%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in 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 boosted its holdings in Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock valued at $41,000 after acquiring an additional 827 shares during the period. Royal Bank of Canada raised its holdings in Amalgamated Financial by 143.8% during the 1st 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 bought a new stake in shares of Amalgamated Financial in the 2nd quarter worth approximately $59,000. Finally, CWM LLC grew its holdings in shares of Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company's stock worth $60,000 after acquiring an additional 549 shares during the period. Institutional investors own 75.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research report 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. Piper Sandler raised their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Weiss Ratings raised Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.50.

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.

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