Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $1,241,574.30 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 33,647 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.90, for a total transaction of $1,241,574.30. Following the transaction, the insider now owns 7,479,084 shares of the company’s stock, valued at $275,978,199.60. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

United Workers also recently made the following trade(s):

• On Wednesday, November 13th, United Workers sold 55,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $37.23, for a total value of $2,047,650.00.
• On Friday, November 8th, United Workers sold 31,844 shares of Amalgamated Financial stock. The shares were sold at an average price of $35.77, for a total value of $1,139,059.88.

Amalgamated Financial Stock Down 0.6 %

AMAL opened at $36.46 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $32.79 and its 200 day simple moving average is $29.48. Amalgamated Financial Corp. has a 52 week low of $20.05 and a 52 week high of $38.19. The stock has a market cap of $1.12 billion, a PE ratio of 10.72 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. The company had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. During the same period last year, the firm posted $0.76 EPS. As a group, research analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.32%. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its holdings in Amalgamated Financial by 679.7% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after acquiring an additional 1,203 shares during the last quarter. US Bancorp DE grew its stake in shares of Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after purchasing an additional 512 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after purchasing an additional 528 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Amalgamated Financial during the 1st quarter valued at approximately $126,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Amalgamated Financial in the 3rd quarter worth approximately $214,000. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.