Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $1,139,059.88 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 31,844 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the completion of the transaction, the insider now directly owns 7,512,731 shares of the company’s stock, valued at $268,730,387.87. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 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 transaction 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 Trading Down 2.5 %

Shares of NASDAQ:AMAL opened at $35.56 on Friday. The business has a 50 day moving average of $32.88 and a 200-day moving average of $29.56. The stock has a market cap of $1.09 billion, a PE ratio of 10.46 and a beta of 0.91. Amalgamated Financial Corp. has a 12-month low of $20.39 and a 12-month high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The company had revenue of $111.76 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.76 earnings per share. As a group, equities research analysts forecast that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.35%. Amalgamated Financial’s dividend payout ratio is 14.12%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reaffirmed 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

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Amalgamated Financial by 679.7% during 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 period. US Bancorp DE boosted its holdings in shares of Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Amalgamated Financial in the 1st quarter valued at $126,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Amalgamated Financial by 12.3% during the 2nd 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. Finally, Acadian Asset Management LLC bought a new stake in shares of Amalgamated Financial during the 2nd quarter worth $213,000. 75.93% of the stock is owned by institutional investors.

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.