States Regional Joint Western Sells 68,783 Shares of Amalgamated Financial (NASDAQ:AMAL) 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 stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60. Following the completion of the sale, the insider directly owned 228,674 shares of the company’s stock, valued at approximately $11,250,760.80. This trade represents a 23.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 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 transaction 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 transaction 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 transaction of $2,132,118.36.
• On Tuesday, September 1st, States Regional Joint Western sold 15,000 shares of Amalgamated Financial stock. The stock was 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 Price Performance

NASDAQ AMAL opened at $47.83 on Thursday. The company has a market cap of $1.43 billion, a PE ratio of 12.75 and a beta of 0.79. The firm’s 50 day moving average price is $48.49 and its 200-day moving average price is $43.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping 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%. Sell-side analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Trending Headlines about Amalgamated Financial

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

• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million expected. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $54, above recent trading levels. Amalgamated Financial stock analysis
• Positive Sentiment: Amalgamated Financial continues to pay a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: The stock remains near its 52-week high, while its 200-day moving average is well below the current level, indicating strong longer-term momentum but also a relatively elevated valuation after its substantial advance.
• Negative Sentiment: Major shareholder States Regional Joint Western reported selling 42,910 shares on September 8 at an average price of $48.56, worth approximately $2.08 million. The transaction reduced its reported position by 17.75%. September 8 SEC filing
• Negative Sentiment: Additional sales of 68,783 shares on September 4 and 44,658 shares on September 3 generated roughly $5.59 million in proceeds. Including the September 8 transaction, these reported sales totaled 156,351 shares and approximately $7.68 million, weighing on investor sentiment.
• Negative Sentiment: The same disclosure also lists further sales from August 31 through September 2, bringing the reported selling over that period to roughly 289,000 shares and $14.1 million. Although these transactions may reflect portfolio management rather than deteriorating company fundamentals, their frequency and size create a near-term supply overhang for AMAL.

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Amalgamated Financial during the 2nd quarter valued at $156,331,000. California State Teachers Retirement System grew its stake in Amalgamated Financial by 4,999.4% during the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after buying an additional 820,708 shares during the last quarter. Millennium Management LLC increased its position in Amalgamated Financial by 63.7% during the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after buying an additional 203,440 shares in the last quarter. Bank of America Corp DE acquired a new position in Amalgamated Financial during the 2nd quarter valued at about $7,771,000. Finally, Bank of New York Mellon Corp purchased a new stake in Amalgamated Financial in the second quarter valued at about $6,931,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMAL has been the subject of a number of analyst reports. Piper Sandler upped their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Raymond James Financial initiated coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price on the stock. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. 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 report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.