Amalgamated Financial (NASDAQ:AMAL) Stock: Insider United Workers Sells 30,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 30,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $50.81, for a total value of $1,524,300.00. Following the transaction, the insider owned 6,856,216 shares of the company’s stock, valued at approximately $348,364,334.96. This represents a 0.44% 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. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, November 3rd, United Workers sold 16,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.02, for a total transaction of $800,320.00.
• 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 stock was sold at an average price of $47.84, for a total value 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 value of $11,210,048.64.
• 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 transaction of $3,815,983.59.
• 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 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 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 value 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 value of $709,200.00.

Amalgamated Financial Trading Up 1.9%

NASDAQ:AMAL opened at $50.82 on Thursday. The firm 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 current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $48.21 and its 200-day simple moving average is $44.06. Amalgamated Financial Corp. has a 12-month low of $26.61 and a 12-month high of $52.30.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The firm had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a net margin of 24.57% and a return on equity of 15.00%. Equities analysts anticipate that Amalgamated Financial Corp. will post 4.13 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s payout ratio is presently 16.71%.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Raymond James Financial started coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective for the company. Weiss Ratings downgraded shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Trending Headlines about 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

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently bought and sold shares of AMAL. Integrated Wealth Concepts LLC purchased a new stake in Amalgamated Financial during the second quarter worth $30,000. Farther Finance Advisors LLC grew its holdings in Amalgamated Financial by 172.0% in the third quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock valued at $35,000 after purchasing an additional 461 shares during the last quarter. Compass Financial Management LLC purchased a new position in shares of Amalgamated Financial in the second quarter valued at $59,000. Nisa Investment Advisors LLC increased its position in shares of Amalgamated Financial by 81.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock valued at $68,000 after buying an additional 644 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Amalgamated Financial in the third quarter valued at $71,000. 75.93% of the stock is owned by institutional investors and hedge funds.

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.