Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $2,047,650.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $37.23, for a total value of $2,047,650.00. Following the sale, the insider now owns 7,379,084 shares of the company’s stock, valued at approximately $274,723,297.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Monday, November 11th, United Workers sold 33,647 shares of Amalgamated Financial stock. The stock was sold at an average price of $36.90, for a total value of $1,241,574.30.
• On Friday, November 8th, United Workers sold 31,844 shares of Amalgamated Financial stock. The stock was sold at an average price of $35.77, for a total value of $1,139,059.88.

Amalgamated Financial Price Performance

Shares of AMAL stock traded down $0.02 during trading on Wednesday, hitting $36.67. The company had a trading volume of 286,836 shares, compared to its average volume of 150,604. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $1.12 billion, a P/E ratio of 10.79 and a beta of 0.91. The stock’s 50-day moving average price is $32.69 and its 200 day moving average price is $29.43. Amalgamated Financial Corp. has a one year low of $20.05 and a one year high of $38.19.

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

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.31%. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares in the last quarter. US Bancorp DE increased its holdings in shares of Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after buying an additional 528 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Amalgamated Financial during the first quarter worth $126,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Amalgamated Financial during the third quarter worth $214,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

About Amalgamated Financial

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.