Amalgamated Financial (NASDAQ:AMAL) Major Shareholder United Workers Sells 15,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $47.28, for a total transaction of $709,200.00. Following the completion of the transaction, the insider directly owned 7,032,971 shares of the company’s stock, valued at approximately $332,518,868.88. The trade was a 0.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 shares were sold at an average price of $48.19, for a total transaction 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 Trading Up 1.7%

NASDAQ AMAL opened at $48.14 on Thursday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79. Amalgamated Financial Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $48.27 and its 200 day moving average is $43.41.

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

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, August 4th. Amalgamated Financial’s payout ratio is 18.13%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 report on Monday, July 27th. Keefe, Bruyette & Woods upped their price target 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. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Amalgamated Financial during the second quarter worth approximately $156,331,000. Vanguard Group Inc. increased its holdings in Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after purchasing an additional 49,037 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amalgamated Financial by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after buying an additional 54,885 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after buying an additional 120,483 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Amalgamated Financial by 4,999.4% during the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after buying an additional 820,708 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

More Amalgamated Financial News

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

• Positive Sentiment: Zacks upgraded AMAL to a Rank #2 (Buy), citing improving optimism around the company’s earnings prospects. The upgrade may provide near-term support for the shares, particularly after Amalgamated Financial’s latest quarterly results exceeded analyst expectations for both earnings and revenue. What Makes Amalgamated Financial AMAL a New Buy Stock
• Neutral Sentiment: AMAL remains financially profitable, with the company’s latest reported quarter showing $1.10 in earnings per share versus a $1.00 consensus estimate and $96.1 million in revenue versus a $92.09 million estimate. Analysts are forecasting approximately $4.06 in full-year EPS, supporting a relatively modest valuation at roughly 12.8 times earnings.
• Negative Sentiment: Major shareholders reported selling shares across August 31, September 1, and September 2. The reported transactions totaled 265,558 shares and approximately $12.76 million when counting the matching filings from United Workers and States Regional Joint Western. Each entity’s reported position fell by about 1.87% across the three sessions, although each still held approximately 6.99 million shares afterward. The sales may weigh on sentiment because they indicate insider-level holders are reducing exposure near recent highs. SEC ownership filing SEC ownership filing

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.