United Workers Sells 15,000 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $47.28, for a total value of $709,200.00. Following the completion of the sale, the insider directly owned 7,032,971 shares in the company, valued at approximately $332,518,868.88. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 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 Monday, August 31st, United Workers sold 73,535 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.12, for a total value of $3,538,504.20.

Amalgamated Financial Price Performance

Amalgamated Financial stock traded up $0.80 during trading on Wednesday, reaching $48.14. The company had a trading volume of 193,113 shares, compared to its average volume of 151,402. The firm’s 50-day simple moving average is $48.27 and its 200 day simple moving average is $43.41. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59. The firm has a market capitalization of $1.44 billion, a PE ratio of 12.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Piper Sandler lifted their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Two investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMAL. Quadrant Capital Group LLC increased its position in Amalgamated Financial by 11.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after purchasing an additional 312 shares during the last quarter. Intech Investment Management LLC grew its position in Amalgamated Financial by 3.4% in the third quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after acquiring an additional 383 shares during the period. Osaic Holdings Inc. increased its stake in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after purchasing an additional 468 shares during the period. Finally, CWM LLC lifted its stake in shares of Amalgamated Financial by 41.2% in the 4th 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 last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.