Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $2,047,650.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 55,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the completion of the transaction, the insider now directly owns 7,379,084 shares in the company, valued at $274,723,297.32. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 Monday, November 11th, United Workers sold 33,647 shares of Amalgamated Financial stock. The stock was sold at an average price of $36.90, for a total transaction of $1,241,574.30.
• On Friday, November 8th, United Workers sold 31,844 shares of Amalgamated Financial stock. The stock was sold at an average price of $35.77, for a total transaction of $1,139,059.88.

Amalgamated Financial Trading Down 2.5 %

Amalgamated Financial stock opened at $35.56 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.46 and a beta of 0.91. Amalgamated Financial Corp. has a one year low of $20.39 and a one year high of $38.19. The company’s fifty day moving average price is $32.88 and its two-hundred day moving average price is $29.56.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $111.76 million for the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same period in the prior year, the business posted $0.76 earnings per share. On average, analysts forecast that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Institutional Investors Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in shares of Amalgamated Financial by 679.7% in the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares during the last quarter. US Bancorp DE grew its position in shares of Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after purchasing an additional 528 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial in the first quarter valued at about $126,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Amalgamated Financial in the third quarter valued at about $214,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.