Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder United Workers sold 73,535 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $48.12, for a total transaction of $3,538,504.20. Following the completion of the transaction, the insider directly owned 7,047,971 shares in the company, valued at approximately $339,148,364.52. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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, September 2nd, United Workers sold 44,244 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.19, for a total value of $2,132,118.36.
- On Tuesday, September 1st, United Workers sold 15,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.28, for a total value of $709,200.00.
Amalgamated Financial Price Performance
Shares of Amalgamated Financial stock traded up $0.80 during trading on Wednesday, reaching $48.14. 193,113 shares of the company’s stock were exchanged, compared to its average volume of 151,402. The firm’s 50-day moving average price is $48.27 and its 200 day moving average price is $43.41. The company has a market cap of $1.44 billion, a P/E ratio of 12.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59.
Amalgamated Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.
Institutional Trading of Amalgamated Financial
Several large investors have recently modified their holdings of AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Amalgamated Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after acquiring an additional 468 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Amalgamated Financial by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock worth $1,872,000 after acquiring an additional 9,500 shares in the last quarter. Jane Street Group LLC grew its holdings in Amalgamated Financial by 373.1% in the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after purchasing an additional 34,923 shares during the period. Legal & General Group Plc increased its stake in Amalgamated Financial by 11.6% in the second quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock valued at $670,000 after purchasing an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Amalgamated Financial by 27.9% in the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after purchasing an additional 7,741 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.
Wall Street Analyst Weigh In
AMAL has been the subject of a number of research reports. Piper Sandler raised their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amalgamated Financial has an average rating of “Moderate Buy” and an average price target of $53.50.
Read Our Latest Analysis on AMAL
Amalgamated Financial Company Profile
Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.
In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.
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