Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells 16,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $50.02, for a total value of $800,320.00. Following the completion of the sale, the insider directly owned 6,840,216 shares of the company’s stock, valued at approximately $342,147,604.32. The trade was a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Monday, November 2nd, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.81, for a total value of $1,524,300.00.
• 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 shares were 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 stock was sold at an average price of $48.56, for a total transaction 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 transaction of $3,384,123.60.
• On Thursday, September 3rd, United Workers sold 44,658 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.43, for a total transaction of $2,207,444.94.
• 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 transaction 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 transaction of $709,200.00.

Amalgamated Financial Stock Performance

Shares of AMAL stock traded down $0.71 during midday trading on Tuesday, hitting $49.89. 155,330 shares of the company were exchanged, compared to its average volume of 220,777. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.26 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. The firm’s 50 day moving average price is $48.16 and its two-hundred day moving average price is $43.98. Amalgamated Financial Corp. has a 52 week low of $26.61 and a 52 week high of $52.30.

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

Amalgamated Financial Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ethic Inc. raised its position in shares of Amalgamated Financial by 217.4% in the third quarter. Ethic Inc. now owns 30,799 shares of the company’s stock valued at $1,465,000 after buying an additional 21,094 shares in the last quarter. Abacus Wealth Partners LLC boosted its stake in shares of Amalgamated Financial by 6.9% in the third quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock valued at $2,259,000 after buying an additional 3,081 shares during the period. Compass Financial Management LLC grew its position in Amalgamated Financial by 558.3% during the third quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock worth $373,000 after buying an additional 6,644 shares in the last quarter. State of Wyoming acquired a new stake in Amalgamated Financial during the third quarter worth approximately $71,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Amalgamated Financial by 72.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 15,766 shares of the company’s stock worth $750,000 after acquiring an additional 6,600 shares during the period. 75.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on AMAL shares. Raymond James Financial initiated coverage on Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target for the company. Weiss Ratings cut Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Piper Sandler lifted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

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.