Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $709,200.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 15,000 shares of Amalgamated Financial stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $47.28, for a total transaction of $709,200.00. Following 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 document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 2nd, United Workers sold 44,244 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.19, for a total value of $2,132,118.36.
• On Monday, August 31st, United Workers sold 73,535 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.12, for a total value of $3,538,504.20.

Amalgamated Financial Stock Up 0.3%

Shares of AMAL opened at $49.17 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of 13.11 and a beta of 0.79. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $51.59. The stock’s 50-day moving average price is $48.38 and its two-hundred day moving average price is $43.50. 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 (NASDAQ:AMAL) last issued 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. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The company had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. On average, analysts anticipate that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Dividend Announcement

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

Institutional Trading of Amalgamated Financial

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

Analyst Ratings Changes

A number of research firms have recently commented on AMAL. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Keefe, Bruyette & Woods boosted their target price 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. Piper Sandler upped their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, Raymond James Financial initiated coverage on Amalgamated Financial in a research note on Thursday. They issued an “outperform” rating and a $55.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Amalgamated Financial presently has an average rating of “Moderate Buy” and an average target price of $54.00.

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.