Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells 30,000 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 30,000 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $49.97, for a total value of $1,499,100.00. Following the sale, the insider owned 6,886,216 shares in the company, valued at approximately $344,104,213.52. This represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 stock was sold at an average price of $50.02, for a total value of $800,320.00.
• On Monday, November 2nd, United Workers sold 30,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $50.81, for a total value of $1,524,300.00.
• 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 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 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 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 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 stock was sold at an average price of $47.28, for a total value of $709,200.00.

Amalgamated Financial Trading Down 1.4%

NASDAQ:AMAL traded down $0.71 during trading hours on Tuesday, hitting $49.89. The company had a trading volume of 155,330 shares, compared to its average volume of 220,777. The company has a market capitalization of $1.49 billion, a PE ratio of 12.26 and a beta of 0.76. The stock has a 50-day moving average price of $48.16 and a 200 day moving average price of $43.98. Amalgamated Financial Corp. has a 52 week low of $26.61 and a 52 week high of $52.30. 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 issued its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a net margin of 24.57% and a return on equity of 15.00%. The business had revenue of $99.17 million during the quarter, compared to analyst estimates of $99.26 million. On average, equities research analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s payout ratio is currently 16.71%.

Institutional Investors Weigh In On Amalgamated Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in Amalgamated Financial during the second quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its holdings in Amalgamated Financial by 172.0% during the third quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock valued at $35,000 after buying an additional 461 shares during the last quarter. Compass Financial Management LLC bought a new position in Amalgamated Financial in the second quarter worth approximately $59,000. Nisa Investment Advisors LLC raised its position in Amalgamated Financial by 81.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock worth $68,000 after acquiring an additional 644 shares during the period. Finally, State of Wyoming purchased a new position in Amalgamated Financial during the third quarter valued at $71,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler boosted their price objective 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 began 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. Finally, Weiss Ratings cut Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Amalgamated Financial Company Profile

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.