Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder United Workers sold 44,244 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $48.19, for a total value of $2,132,118.36. Following the sale, the insider directly owned 6,988,727 shares of the company’s stock, valued at approximately $336,786,754.13. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 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 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 transaction 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 Trading Up 1.7%
Shares of AMAL stock traded up $0.80 during trading hours on Wednesday, reaching $48.14. The company’s stock had a trading volume of 193,113 shares, compared to its average volume of 151,402. The stock has a market capitalization of $1.44 billion, a P/E ratio of 12.84 and a beta of 0.79. The firm’s fifty day simple moving average is $48.27 and its 200 day simple moving average is $43.41. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Equities research analysts expect that Amalgamated Financial Corp. will post 4.06 EPS for the current year.
Amalgamated Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s payout ratio is currently 18.13%.
Institutional Investors Weigh In On Amalgamated Financial
Institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Amalgamated Financial in the 2nd quarter worth about $156,331,000. Vanguard Group Inc. lifted its stake in Amalgamated Financial by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after acquiring an additional 49,037 shares during the period. Dimensional Fund Advisors LP lifted its stake in Amalgamated Financial by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after acquiring an additional 54,885 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Amalgamated Financial by 14.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after acquiring an additional 120,483 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Amalgamated Financial by 4,999.4% during the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock valued at $38,424,000 after acquiring an additional 820,708 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AMAL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. 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. Finally, Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.
Get Our Latest Research Report on AMAL
About Amalgamated Financial
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.
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