United Workers Sells 44,658 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 44,658 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $2,207,444.94. Following the completion of the transaction, the insider directly owned 274,475 shares of the company’s stock, valued at $13,567,299.25. This trade represents a 13.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 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 shares were sold at an average price of $49.20, for a total value of $3,384,123.60.
• 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 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.
• 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 value of $3,538,504.20.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $47.83 on Thursday. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59. The stock’s 50-day moving average is $48.49 and its 200 day moving average is $43.69. The company has a market cap of $1.43 billion, a P/E ratio of 12.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. Research analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were given 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 dividend yield of 1.4%. Amalgamated Financial’s payout ratio is presently 18.13%.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMAL. Integrated Wealth Concepts LLC acquired a new stake in Amalgamated Financial in the 2nd quarter worth approximately $30,000. Osaic Holdings Inc. increased its stake in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. Arax Advisory Partners increased its stake in Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock worth $57,000 after buying an additional 876 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new position in shares of Amalgamated Financial in the second quarter worth $59,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Amalgamated Financial

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

• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million expected. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $54, above recent trading levels. Amalgamated Financial stock analysis
• Positive Sentiment: Amalgamated Financial continues to pay a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: The stock remains near its 52-week high, while its 200-day moving average is well below the current level, indicating strong longer-term momentum but also a relatively elevated valuation after its substantial advance.
• Negative Sentiment: Major shareholder States Regional Joint Western reported selling 42,910 shares on September 8 at an average price of $48.56, worth approximately $2.08 million. The transaction reduced its reported position by 17.75%. September 8 SEC filing
• Negative Sentiment: Additional sales of 68,783 shares on September 4 and 44,658 shares on September 3 generated roughly $5.59 million in proceeds. Including the September 8 transaction, these reported sales totaled 156,351 shares and approximately $7.68 million, weighing on investor sentiment.
• Negative Sentiment: The same disclosure also lists further sales from August 31 through September 2, bringing the reported selling over that period to roughly 289,000 shares and $14.1 million. Although these transactions may reflect portfolio management rather than deteriorating company fundamentals, their frequency and size create a near-term supply overhang for AMAL.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Raymond James Financial began coverage on Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective for the company. Finally, Piper Sandler raised their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.