Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells 44,244 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 44,244 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $48.19, for a total transaction of $2,132,118.36. Following the completion of the sale, the insider directly owned 6,988,727 shares of the company’s stock, valued at approximately $336,786,754.13. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% 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 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 value of $709,200.00.
• 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 Stock Performance

Shares of NASDAQ:AMAL traded up $0.80 during midday trading on Wednesday, hitting $48.14. The company had a trading volume of 193,113 shares, compared to its average volume of 151,402. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $51.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79. The company has a fifty day moving average of $48.27 and a two-hundred day moving average of $43.41.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $96.10 million for 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%. On average, equities research analysts expect that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a dividend of $0.17 per share. 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 is presently 18.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMAL shares. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Piper Sandler lifted their price target 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Amalgamated Financial by 4.6% during the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Amalgamated Financial by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock worth $1,872,000 after acquiring an additional 9,500 shares during the period. Jane Street Group LLC lifted its stake in Amalgamated Financial by 373.1% in the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after acquiring an additional 34,923 shares during the period. Legal & General Group Plc grew its holdings in Amalgamated Financial by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock worth $670,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Amalgamated Financial by 27.9% during the 2nd quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after purchasing an additional 7,741 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

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.