Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $1,524,300.00 in Stock

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 transaction of $1,524,300.00. Following the completion of the sale, the insider directly owned 6,856,216 shares in the company, valued at approximately $348,364,334.96. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% 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 shares were 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 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 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 value 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 shares were 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 stock was 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 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

AMAL opened at $49.36 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63. Amalgamated Financial Corp. has a 52-week low of $26.61 and a 52-week high of $52.30. The stock has a market capitalization of $1.47 billion, a PE ratio of 12.61 and a beta of 0.76. The stock’s 50 day moving average price is $48.22 and its 200-day moving average price is $44.14.

Amalgamated Financial (NASDAQ:AMAL) last announced 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. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. The company had revenue of $99.17 million during the quarter, compared to the consensus estimate of $99.26 million. On average, equities research analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 3rd. Amalgamated Financial’s payout ratio is presently 16.71%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. 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 worth $35,000 after purchasing an additional 461 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Amalgamated Financial by 81.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock valued at $68,000 after purchasing an additional 644 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Amalgamated Financial during the second quarter valued at approximately $30,000. First Trust Advisors LP boosted its position in shares of Amalgamated Financial by 3.2% in the 1st quarter. First Trust Advisors LP now owns 22,293 shares of the company’s stock worth $867,000 after purchasing an additional 685 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Amalgamated Financial by 4.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock worth $853,000 after purchasing an additional 751 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Raymond James Financial began coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target on the stock. Piper Sandler increased their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.00.

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.