United Canada Council Workers Sells 82,464 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Canada Council Workers sold 82,464 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $2,560,507.20. Following the sale, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 11th, United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock. The shares were sold at an average price of $29.97, for a total value of $1,335,972.69.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $29.99 on Thursday. The company’s fifty day moving average is $30.17 and its two-hundred day moving average is $26.32. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. Amalgamated Financial Corp. has a 12-month low of $15.19 and a 12-month high of $33.24. The company has a market cap of $918.89 million, a P/E ratio of 9.80 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The business had revenue of $108.22 million for the quarter, compared to analysts’ expectations of $77.33 million. During the same period in the previous year, the company posted $0.72 EPS. Equities analysts expect that Amalgamated Financial Corp. will post 3.29 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio is 15.69%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMAL. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research note on Thursday, June 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in shares of Amalgamated Financial during the first quarter valued at about $909,000. Lazard Asset Management LLC raised its position in Amalgamated Financial by 63.0% in the first quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after purchasing an additional 6,030 shares in the last quarter. Truist Financial Corp bought a new position in Amalgamated Financial during the fourth quarter worth about $427,000. Arjuna Capital lifted its stake in Amalgamated Financial by 6.6% during the fourth quarter. Arjuna Capital now owns 167,994 shares of the company’s stock worth $4,526,000 after purchasing an additional 10,448 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Amalgamated Financial by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock worth $27,096,000 after purchasing an additional 122,722 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.