Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder United Workers Sells 31,844 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 31,844 shares of Amalgamated Financial stock in a transaction that occurred 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 transaction, the insider now directly owns 7,512,731 shares in the company, valued at $268,730,387.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 Stock Down 0.1 %

NASDAQ AMAL opened at $36.67 on Thursday. Amalgamated Financial Corp. has a one year low of $20.05 and a one year high of $38.19. The company has a market cap of $1.12 billion, a P/E ratio of 10.79 and a beta of 0.91. 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 business has a fifty day moving average price of $32.69 and a 200 day moving average price of $29.43.

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

Amalgamated Financial Dividend Announcement

The firm also recently declared 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 of this dividend is Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. Amalgamated Financial’s dividend payout ratio is presently 14.12%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its stake in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after acquiring an additional 63,561 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Amalgamated Financial in the 1st quarter valued at about $909,000. LSV Asset Management acquired a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $1,378,000. Deerfield Management Company L.P. Series C acquired a new stake in Amalgamated Financial during the 2nd quarter worth $1,219,000. Finally, Lazard Asset Management LLC increased its position in Amalgamated Financial by 63.0% in the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after acquiring an additional 6,030 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

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

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.