Amalgamated Financial (NASDAQ:AMAL) Major Shareholder United Workers Sells 44,244 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 44,244 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $48.19, for a total value of $2,132,118.36. Following the transaction, the insider directly owned 6,988,727 shares in the company, valued at $336,786,754.13. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

United Workers also recently made the following trade(s):

• On Tuesday, September 1st, United Workers 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.
• On Monday, August 31st, United Workers 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

Shares of NASDAQ AMAL opened at $48.14 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $51.59. The company has a 50 day simple moving average of $48.27 and a two-hundred day simple moving average of $43.41. The stock 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) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $96.10 million for 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 predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently announced 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. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio is presently 18.13%.

Trending Headlines about Amalgamated Financial

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

• Positive Sentiment: Zacks upgraded AMAL to a Rank #2 (Buy), citing improving optimism around the company’s earnings prospects. The upgrade may provide near-term support for the shares, particularly after Amalgamated Financial’s latest quarterly results exceeded analyst expectations for both earnings and revenue. What Makes Amalgamated Financial AMAL a New Buy Stock
• Neutral Sentiment: AMAL remains financially profitable, with the company’s latest reported quarter showing $1.10 in earnings per share versus a $1.00 consensus estimate and $96.1 million in revenue versus a $92.09 million estimate. Analysts are forecasting approximately $4.06 in full-year EPS, supporting a relatively modest valuation at roughly 12.8 times earnings.
• Negative Sentiment: Major shareholders reported selling shares across August 31, September 1, and September 2. The reported transactions totaled 265,558 shares and approximately $12.76 million when counting the matching filings from United Workers and States Regional Joint Western. Each entity’s reported position fell by about 1.87% across the three sessions, although each still held approximately 6.99 million shares afterward. The sales may weigh on sentiment because they indicate insider-level holders are reducing exposure near recent highs. SEC ownership filing SEC ownership filing

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMAL shares. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Piper Sandler raised their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Amalgamated Financial has an average rating of “Moderate Buy” and an average target price of $53.50.

Hedge Funds Weigh In On Amalgamated Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMAL. Empowered Funds LLC acquired a new stake in shares of Amalgamated Financial in the 2nd quarter worth $6,459,000. Hsbc Holdings PLC purchased a new stake in shares of Amalgamated Financial in the second quarter valued at about $2,259,000. Vanguard Group Inc. grew its holdings in shares of Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares during the period. Versor Investments LP purchased a new position in Amalgamated Financial during the fourth quarter worth about $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Amalgamated Financial during the second quarter worth about $1,298,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.