Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $1,524,300.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $50.81, for a total transaction of $1,524,300.00. Following the sale, the insider directly owned 6,856,216 shares of the company’s stock, valued at approximately $348,364,334.96. The trade was a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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, November 3rd, United Workers sold 16,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $50.02, for a total transaction of $800,320.00.
• On Friday, October 30th, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.97, for a total value of $1,499,100.00.
• On Monday, September 14th, United Workers sold 228,284 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.84, for a total value of $10,921,106.56.
• On Friday, September 11th, United Workers sold 234,128 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.88, for a total value of $11,210,048.64.
• On Wednesday, September 9th, United Workers sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total value of $3,815,983.59.
• On Tuesday, September 8th, United Workers sold 42,910 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.56, for a total value of $2,083,709.60.
• On Friday, September 4th, United Workers sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total value of $3,384,123.60.
• On Thursday, September 3rd, United Workers sold 44,658 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.43, for a total value of $2,207,444.94.
• On Wednesday, September 2nd, United Workers 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 Tuesday, September 1st, United Workers sold 15,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded down $0.71 during midday trading on Tuesday, reaching $49.89. The company’s stock had a trading volume of 155,330 shares, compared to its average volume of 220,777. Amalgamated Financial Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $52.30. The company has a market capitalization of $1.49 billion, a P/E ratio of 12.56 and a beta of 0.76. 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 business’s fifty day simple moving average is $48.16 and its 200-day simple moving average is $43.98.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. As a group, equities research analysts expect that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.71%.

Analysts Set New Price Targets

AMAL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings cut shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Piper Sandler raised their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Raymond James Financial began coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Amalgamated Financial by 172.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock worth $35,000 after purchasing an additional 461 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Amalgamated Financial by 81.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock valued at $68,000 after purchasing an additional 644 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Amalgamated Financial during the 2nd quarter valued at about $30,000. First Trust Advisors LP lifted its position in Amalgamated Financial by 3.2% during the 1st quarter. First Trust Advisors LP now owns 22,293 shares of the company’s stock valued at $867,000 after purchasing an additional 685 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Amalgamated Financial by 143.8% in the 1st 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 during the last quarter. Institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.