Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells 31,844 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 31,844 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the transaction, the insider now directly owns 7,512,731 shares in the company, valued at approximately $268,730,387.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 stock was sold at an average price of $37.23, for a total value of $2,047,650.00.
• On Monday, November 11th, United Workers sold 33,647 shares of Amalgamated Financial stock. The shares were sold at an average price of $36.90, for a total transaction of $1,241,574.30.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $36.67 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of 10.79 and a beta of 0.91. Amalgamated Financial Corp. has a 52 week low of $20.05 and a 52 week high of $38.19. 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’s fifty day moving average is $32.69 and its 200-day moving average is $29.43.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million for the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same period in the prior year, the firm posted $0.76 earnings per share. Sell-side analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

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 given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. Amalgamated Financial’s payout ratio is currently 14.12%.

Institutional Trading of Amalgamated Financial

Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP grew its position in shares of Amalgamated Financial by 9,898.7% in the 3rd quarter. Quantbot Technologies LP now owns 7,599 shares of the company’s stock worth $238,000 after buying an additional 7,523 shares during the last quarter. FMR LLC raised its position in shares of Amalgamated Financial by 198.0% during the 3rd quarter. FMR LLC now owns 35,663 shares of the company’s stock worth $1,119,000 after purchasing an additional 23,697 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Amalgamated Financial during the 3rd quarter worth $214,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Amalgamated Financial in the third quarter valued at approximately $388,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after buying an additional 111,357 shares during the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.