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 Amalgamated Financial stock in a transaction dated 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 transaction, the insider now owns 7,379,084 shares in the company, valued at approximately $274,723,297.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 Stock Down 0.1 %

Shares of AMAL traded down $0.02 during midday trading on Wednesday, hitting $36.67. The stock had a trading volume of 286,836 shares, compared to its average volume of 150,604. The company has a 50 day simple moving average of $32.69 and a two-hundred day simple moving average of $29.43. Amalgamated Financial Corp. has a twelve month low of $20.05 and a twelve month high of $38.19. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 10.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.

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

Amalgamated Financial Announces Dividend

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

Institutional Trading of Amalgamated Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Amalgamated Financial by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock worth $31,716,000 after buying an additional 43,213 shares during the last quarter. American Century Companies Inc. increased its position in Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares during the last quarter. Arjuna Capital increased its position in Amalgamated Financial by 2.5% during the second quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after buying an additional 4,319 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Amalgamated Financial by 219.7% during the third 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. Finally, Bank of New York Mellon Corp increased its position in Amalgamated Financial by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after buying an additional 4,555 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $35.00 target price (up 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.