United Workers Sells 42,910 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder United Workers sold 42,910 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $48.56, for a total value of $2,083,709.60. Following the transaction, the insider owned 198,782 shares of the company’s stock, valued at $9,652,853.92. The trade was a 17.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large 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 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 value 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 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 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.

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Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded down $0.95 during midday trading on Tuesday, hitting $48.22. The company’s stock had a trading volume of 242,943 shares, compared to its average volume of 164,061. The stock has a fifty day moving average price of $48.43 and a 200 day moving average price of $43.58. 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. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.86 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. On average, research analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders 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 dividend payout ratio is currently 18.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Raymond James Financial assumed coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price for the company. Piper Sandler lifted their target price on 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 upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research 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. According to data from MarketBeat, Amalgamated Financial presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Get Our Latest Analysis on Amalgamated Financial

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after purchasing an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Amalgamated Financial by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after buying an additional 9,500 shares during the period. Jane Street Group LLC boosted its stake in Amalgamated Financial by 373.1% during the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after buying an additional 34,923 shares during the period. Legal & General Group Plc grew its position in Amalgamated Financial by 11.6% during the second quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock worth $670,000 after buying an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Amalgamated Financial by 27.9% during the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock worth $1,106,000 after buying an additional 7,741 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

About Amalgamated Financial

(Get Free Report)

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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