Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $2,083,709.60 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 42,910 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $48.56, for a total transaction of $2,083,709.60. Following the completion of the sale, the insider directly owned 198,782 shares of the company’s stock, valued at approximately $9,652,853.92. The trade was a 17.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 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 transaction of $2,207,444.94.
• On Wednesday, September 2nd, United Workers sold 44,244 shares of Amalgamated Financial stock. The shares were 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 Stock Up 1.4%

AMAL opened at $48.52 on Friday. The company has a market cap of $1.45 billion, a PE ratio of 12.94 and a beta of 0.79. Amalgamated Financial Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. The company has a 50-day moving average price of $48.54 and a 200 day moving average price of $43.74. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Sell-side analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share 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 paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial’s payout ratio is currently 18.13%.

Key Headlines Impacting Amalgamated Financial

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

• Positive Sentiment: Amalgamated Financial’s latest quarterly earnings exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus the $92.09 million forecast. Analysts expect approximately $4.06 in full-year EPS.
• Positive Sentiment: Analyst sentiment remains favorable. The consensus rating is “Moderate Buy” with a $54 target price, while Raymond James initiated coverage with an “outperform” rating and a $55 price objective. Keefe, Bruyette & Woods also raised its target to $54.
• Positive Sentiment: The company continues to pay a quarterly dividend of $0.17, equivalent to $0.68 annually and a yield of about 1.4%.
• Neutral Sentiment: Reported short interest was listed as zero shares with a zero-day short ratio. Because the data showed no change and an invalid percentage calculation, it provides little useful information about trading pressure.
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by roughly 53% and 2.8%, respectively. SEC insider-sale filing
• Negative Sentiment: Major shareholder States Regional Joint Western sold 42,910 shares for approximately $2.08 million on September 8, following several additional sales in late August and early September. The repeated disposals represent millions of dollars in selling and may raise concerns about concentrated-holder supply, even though they do not indicate deteriorating company results. Major shareholder sale report

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Piper Sandler upped their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial began coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They issued 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in Amalgamated Financial by 11.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after buying an additional 312 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Amalgamated Financial by 3.4% in the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after acquiring an additional 383 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after acquiring an additional 468 shares during the period. Finally, CWM LLC boosted its position in shares of Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after acquiring an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.