United Workers Sells 234,128 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 234,128 shares of Amalgamated Financial stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $47.88, for a total value of $11,210,048.64. Following the sale, the insider directly owned 399,567 shares of the company’s stock, valued at approximately $19,131,267.96. This trade represents a 36.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more 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 Monday, September 14th, United Workers sold 228,284 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.84, for a total value of $10,921,106.56.
• On Wednesday, September 9th, United Workers sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total value of $3,815,983.59.
• On Tuesday, September 8th, United Workers sold 42,910 shares of Amalgamated Financial stock. The stock was 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 value of $3,384,123.60.
• On Thursday, September 3rd, United Workers sold 44,658 shares of Amalgamated Financial stock. The shares were 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 transaction 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 transaction of $709,200.00.
• On Monday, August 31st, United Workers sold 73,535 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Trading Down 1.7%

Shares of AMAL stock traded down $0.79 on Tuesday, hitting $46.99. 235,460 shares of the company’s stock traded hands, compared to its average volume of 168,863. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.53 and a beta of 0.79. The company’s fifty day simple moving average is $48.60 and its 200 day simple moving average is $43.87. Amalgamated Financial Corp. has a one year low of $25.13 and a one year 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.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. Equities analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $156,331,000. Bank of America Corp DE purchased a new position in Amalgamated Financial during the second quarter valued at $7,771,000. Bank of New York Mellon Corp bought a new stake in shares of Amalgamated Financial during the 2nd quarter valued at $6,931,000. Empowered Funds LLC bought a new stake in shares of Amalgamated Financial during the 2nd quarter valued at $6,459,000. Finally, Globeflex Capital L P purchased a new stake in shares of Amalgamated Financial in the 2nd quarter worth about $4,746,000. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.

Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.