United Workers Sells 68,783 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 68,783 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60. Following the transaction, the insider owned 228,674 shares in the company, valued at $11,250,760.80. The trade was a 23.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major 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 transaction of $2,083,709.60.
• 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 transaction 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 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 Trading Down 1.9%

Amalgamated Financial stock traded down $0.95 during trading on Tuesday, reaching $48.22. 242,943 shares of the company were exchanged, compared to its average volume of 164,061. The stock’s 50 day simple moving average is $48.43 and its two-hundred day simple moving average is $43.58. The company has a market capitalization of $1.44 billion, a P/E ratio of 12.86 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 Corp. has a 52-week low of $25.13 and a 52-week high of $51.59.

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. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. On average, equities research analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently made changes to their positions in AMAL. Arizona State Retirement System purchased a new position in shares of Amalgamated Financial during the 2nd quarter worth approximately $227,000. Amundi purchased a new stake in Amalgamated Financial in the second quarter valued at approximately $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Amalgamated Financial during the second quarter worth $421,000. California State Teachers Retirement System lifted its stake in Amalgamated Financial by 4,999.4% during the second quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after purchasing an additional 820,708 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new position in shares of Amalgamated Financial during the second quarter worth $59,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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