Amalgamated Financial (NASDAQ:AMAL) Major Shareholder United Workers Sells 73,535 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 73,535 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $48.12, for a total value of $3,538,504.20. Following the completion of the sale, the insider directly owned 7,047,971 shares of the company’s stock, valued at $339,148,364.52. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 sales and purchases 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 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 stock was sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $48.14 on Thursday. The company’s fifty day moving average is $48.27 and its two-hundred day moving average is $43.41. 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 capitalization of $1.44 billion, a P/E ratio of 12.84 and a beta of 0.79. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data 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 analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Analysts forecast 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 given a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.

Analyst Ratings Changes

Several analysts have commented on the stock. 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 raised their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Piper Sandler boosted 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. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds have recently made changes to their positions in the business. Amundi bought a new stake in shares of Amalgamated Financial in the 2nd quarter worth approximately $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Amalgamated Financial during the second quarter worth approximately $421,000. California State Teachers Retirement System grew its position in Amalgamated Financial by 4,999.4% in the second 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 during the last quarter. Compass Financial Management LLC acquired a new position in Amalgamated Financial in the second quarter worth approximately $59,000. Finally, Nwam LLC increased its holdings in shares of Amalgamated Financial by 57.0% in the second quarter. Nwam LLC now owns 27,204 shares of the company’s stock valued at $1,249,000 after buying an additional 9,875 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Key Stories Impacting Amalgamated Financial

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.