Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $2,207,444.94 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 44,658 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $2,207,444.94. Following the sale, the insider directly owned 274,475 shares in the company, valued at approximately $13,567,299.25. This trade represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, 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 stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60.
• 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 transaction of $2,132,118.36.
• 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 stock was sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $48.52 on Friday. The firm’s 50 day simple moving average is $48.54 and its 200 day simple moving average is $43.74. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.94 and a beta of 0.79. 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 1 year low of $25.13 and a 1 year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The business 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%. As a group, research analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were given 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 was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio is currently 18.13%.

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Amalgamated Financial during the second quarter valued at about $156,331,000. Vanguard Group Inc. raised its holdings in Amalgamated Financial by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after buying an additional 49,037 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Amalgamated Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after buying an additional 54,885 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Amalgamated Financial by 14.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after buying an additional 120,483 shares during the period. Finally, California State Teachers Retirement System boosted its position 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 period. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial News Roundup

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

• Positive Sentiment: Amalgamated Financial’s latest quarterly earnings exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus the $92.09 million forecast. Analysts expect approximately $4.06 in full-year EPS.
• Positive Sentiment: Analyst sentiment remains favorable. The consensus rating is “Moderate Buy” with a $54 target price, while Raymond James initiated coverage with an “outperform” rating and a $55 price objective. Keefe, Bruyette & Woods also raised its target to $54.
• Positive Sentiment: The company continues to pay a quarterly dividend of $0.17, equivalent to $0.68 annually and a yield of about 1.4%.
• Neutral Sentiment: Reported short interest was listed as zero shares with a zero-day short ratio. Because the data showed no change and an invalid percentage calculation, it provides little useful information about trading pressure.
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by roughly 53% and 2.8%, respectively. SEC insider-sale filing
• Negative Sentiment: Major shareholder States Regional Joint Western sold 42,910 shares for approximately $2.08 million on September 8, following several additional sales in late August and early September. The repeated disposals represent millions of dollars in selling and may raise concerns about concentrated-holder supply, even though they do not indicate deteriorating company results. Major shareholder sale report

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. 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 research note on Monday, July 27th. Raymond James Financial started coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently 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.