United Workers Sells 55,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 55,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the completion of the sale, the insider now owns 7,379,084 shares of the company’s stock, valued at approximately $274,723,297.32. The trade was a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 shares were sold at an average price of $36.90, for a total transaction of $1,241,574.30.
• 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 transaction of $1,139,059.88.

Amalgamated Financial Stock Down 2.5 %

Shares of AMAL opened at $35.56 on Friday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 10.46 and a beta of 0.91. 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 Corp. has a 12 month low of $20.39 and a 12 month high of $38.19. The company has a 50-day moving average price of $32.88 and a two-hundred day moving average price of $29.56.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million during 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 quarter last year, the company earned $0.76 earnings per share. Equities analysts predict that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s payout ratio is 14.12%.

Analysts Set New Price Targets

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

Institutional Trading of Amalgamated Financial

Hedge funds have recently modified their holdings of the company. CWM LLC increased its holdings in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after buying 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. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial during the first quarter worth approximately $126,000. 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. Finally, Acadian Asset Management LLC acquired a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $213,000. 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.