Amalgamated Financial (NASDAQ:AMAL) Stock: Insider United Workers Sells 16,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $50.02, for a total value of $800,320.00. Following the completion of the sale, the insider owned 6,840,216 shares of the company’s stock, valued at approximately $342,147,604.32. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

United Workers also recently made the following trade(s):

• On Monday, November 2nd, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.81, for a total transaction of $1,524,300.00.
• On Friday, October 30th, United Workers sold 30,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.97, for a total transaction of $1,499,100.00.
• 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 transaction of $10,921,106.56.
• On Friday, September 11th, United Workers sold 234,128 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.88, for a total transaction of $11,210,048.64.
• On Wednesday, September 9th, United Workers sold 79,649 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.91, for a total transaction 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 transaction of $2,083,709.60.
• On Friday, September 4th, United Workers sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total transaction 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.

Amalgamated Financial Stock Up 1.9%

Shares of NASDAQ AMAL opened at $50.82 on Thursday. Amalgamated Financial Corp. has a 1 year low of $26.61 and a 1 year high of $52.30. The firm has a 50-day simple moving average of $48.21 and a two-hundred day simple moving average of $44.06. The company has a market cap of $1.52 billion, a P/E ratio of 12.38 and a beta of 0.76. 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 (NASDAQ:AMAL) last released its earnings results on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $99.17 million for the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. Research analysts anticipate that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.71%.

Key Headlines Impacting Amalgamated Financial

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

• Positive Sentiment: In its latest reported quarter, Amalgamated Financial earned $1.14 per share, above the $1.08 consensus estimate. Revenue was slightly below expectations, limiting the strength of the beat.
• Negative Sentiment: Major shareholder United Workers sold 16,000 shares for about $800,000 on November 3, following sales of 30,000 shares on each of October 30 and November 2. The sales may signal some profit-taking, but each reduced its reported position by less than 0.5%; it retained about 6.84 million shares. Article: Amalgamated Financial Stock: Insider United Workers Sells 16,000 Shares

Analyst Ratings Changes

AMAL has been the topic of several research analyst reports. Piper Sandler upped 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. Keefe, Bruyette & Woods increased their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings downgraded Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Raymond James Financial assumed coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They set an “outperform” rating and a $55.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently added to or reduced their stakes in AMAL. Allspring Global Investments Holdings LLC increased its position in shares of Amalgamated Financial by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock worth $853,000 after acquiring an additional 751 shares during the period. Ethic Inc. raised its stake in shares of Amalgamated Financial by 217.4% during the third quarter. Ethic Inc. now owns 30,799 shares of the company’s stock valued at $1,465,000 after acquiring an additional 21,094 shares in the last quarter. Abacus Wealth Partners LLC raised its stake in shares of Amalgamated Financial by 6.9% during the third quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock valued at $2,259,000 after acquiring an additional 3,081 shares in the last quarter. Compass Financial Management LLC raised its stake in shares of Amalgamated Financial by 558.3% during the third quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock valued at $373,000 after acquiring an additional 6,644 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Amalgamated Financial in the third quarter valued at approximately $71,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

About Amalgamated Financial

Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.