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 Amalgamated Financial stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $2,207,444.94. Following the transaction, the insider directly owned 274,475 shares of the company’s stock, valued at $13,567,299.25. The trade was a 13.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 stock was sold at an average price of $49.20, for a total transaction 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 transaction 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.
• 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 transaction of $3,538,504.20.

Amalgamated Financial Price Performance

Amalgamated Financial stock traded down $0.95 during midday trading on Tuesday, reaching $48.22. 242,943 shares of the stock were exchanged, compared to its average volume of 164,061. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $51.59. 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 has a market cap of $1.44 billion, a PE ratio of 12.86 and a beta of 0.79. The company’s fifty day moving average is $48.43 and its 200-day moving average is $43.58.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $96.10 million during 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, sell-side analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler upped their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Raymond James Financial initiated 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. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors have recently modified their holdings of AMAL. Quadrant Capital Group LLC raised its holdings in shares of Amalgamated Financial by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock valued at $100,000 after buying an additional 312 shares in the last quarter. Intech Investment Management LLC boosted its stake 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 buying an additional 383 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after buying an additional 391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Amalgamated Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after acquiring an additional 468 shares during the last quarter. Finally, CWM LLC grew its position in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after acquiring an additional 549 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

About Amalgamated Financial

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.