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 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 completion of the transaction, the insider now owns 7,379,084 shares of the company’s stock, valued at approximately $274,723,297.32. This represents a 0.74 % decrease in their position. 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 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 value 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 value of $1,139,059.88.

Amalgamated Financial Stock Down 0.6 %

Shares of NASDAQ AMAL opened at $36.46 on Friday. 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 has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.72 and a beta of 0.91. The stock has a 50 day moving average price of $32.79 and a 200 day moving average price of $29.48. Amalgamated Financial Corp. has a 52-week low of $20.05 and a 52-week high of $38.19.

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, beating analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analyst estimates 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. Sell-side analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. Amalgamated Financial’s payout ratio is 14.12%.

Wall Street Analyst Weigh In

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

Institutional Trading of Amalgamated Financial

A number of large investors have recently modified their holdings of the company. CWM LLC raised its stake in Amalgamated Financial by 679.7% in 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 raised its stake in Amalgamated Financial by 28.4% in 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. DekaBank Deutsche Girozentrale raised its stake in Amalgamated Financial by 12.3% in 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. Allspring Global Investments Holdings LLC bought a new position in Amalgamated Financial in the first quarter worth approximately $126,000. Finally, The Manufacturers Life Insurance Company bought a new position in Amalgamated Financial in the third quarter worth approximately $214,000. Hedge funds and other institutional investors 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.