Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $3,384,123.60 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 68,783 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60. Following the completion of the sale, the insider directly owned 228,674 shares of the company’s stock, valued at $11,250,760.80. This represents a 23.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 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 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 shares were 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 shares were sold at an average price of $47.28, for a total value of $709,200.00.
• On Monday, August 31st, United Workers sold 73,535 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.12, for a total value of $3,538,504.20.

Amalgamated Financial Price Performance

AMAL opened at $48.52 on Friday. The stock’s 50 day simple moving average is $48.54 and its 200 day simple moving average is $43.74. 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 Corp. has a 1 year low of $25.13 and a 1 year high of $51.59. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 12.94 and a beta of 0.79.

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

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s payout ratio is presently 18.13%.

Institutional Trading of Amalgamated Financial

Several large investors have recently added to or reduced their stakes in AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 valued at $306,000 after purchasing an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Amalgamated Financial by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock worth $1,872,000 after purchasing an additional 9,500 shares during the period. Jane Street Group LLC boosted its stake in shares of Amalgamated Financial by 373.1% during the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after purchasing an additional 34,923 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Amalgamated Financial by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock valued at $670,000 after purchasing an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Amalgamated Financial by 27.9% during the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after buying an additional 7,741 shares during the period. Institutional investors own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

AMAL has been the subject of several 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 research report on Monday, July 27th. Raymond James Financial assumed coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price 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. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Amalgamated Financial presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

More Amalgamated Financial News

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

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.