Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $800,320.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was 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. This trade represents a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Monday, November 2nd, United Workers sold 30,000 shares of Amalgamated Financial stock. The shares were 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 transaction of $1,499,100.00.
• On Monday, September 14th, United Workers sold 228,284 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.84, for a total transaction of $10,921,106.56.
• On Friday, September 11th, United Workers sold 234,128 shares of Amalgamated Financial stock. The stock was 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 shares were 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 stock was sold at an average price of $49.43, for a total value of $2,207,444.94.
• 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 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.

Amalgamated Financial Trading Down 2.9%

Amalgamated Financial stock opened at $49.36 on Friday. The firm has a market capitalization of $1.47 billion, a PE ratio of 12.61 and a beta of 0.76. The business’s 50-day simple moving average is $48.22 and its 200-day simple moving average is $44.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63. 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 data on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $99.17 million for the quarter, compared to the consensus estimate of $99.26 million. Amalgamated Financial had a net margin of 24.57% and a return on equity of 14.91%. Equities research analysts forecast that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMAL shares. 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 target price for the company. Weiss Ratings cut shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Piper Sandler lifted their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Investors Weigh In On Amalgamated Financial

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Amalgamated Financial during the 2nd quarter worth about $156,331,000. Bank of America Corp DE acquired a new stake in Amalgamated Financial in the 2nd quarter valued at $7,771,000. Bank of New York Mellon Corp bought a new stake in Amalgamated Financial during the 2nd quarter worth about $6,931,000. Empowered Funds LLC bought a new position in shares of Amalgamated Financial in the 2nd quarter valued at about $6,459,000. Finally, Globeflex Capital L P acquired a new stake in shares of Amalgamated Financial in the 2nd quarter valued at approximately $4,746,000. Institutional investors own 75.93% of the company’s stock.

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.