Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder United Workers sold 30,000 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $49.97, for a total value of $1,499,100.00. Following the completion of the transaction, the insider owned 6,886,216 shares in the company, valued at $344,104,213.52. The trade was a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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 Tuesday, November 3rd, United Workers sold 16,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.02, for a total transaction of $800,320.00.
- On Monday, November 2nd, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.81, for a total transaction of $1,524,300.00.
- On Monday, September 14th, United Workers sold 228,284 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.84, for a total transaction of $10,921,106.56.
- On Friday, September 11th, United Workers sold 234,128 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.88, for a total transaction of $11,210,048.64.
- On Wednesday, September 9th, United Workers sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total transaction of $3,815,983.59.
- On Tuesday, September 8th, United Workers sold 42,910 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.56, for a total transaction of $2,083,709.60.
- On Friday, September 4th, United Workers sold 68,783 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60.
- On Thursday, September 3rd, United Workers sold 44,658 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.43, for a total transaction of $2,207,444.94.
- 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 stock was sold at an average price of $47.28, for a total value of $709,200.00.
Amalgamated Financial Trading Down 2.9%
Shares of AMAL stock opened at $49.36 on Friday. Amalgamated Financial Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $52.30. The stock’s fifty day moving average price is $48.22 and its two-hundred day moving average price is $44.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $1.47 billion, a PE ratio of 12.61 and a beta of 0.76.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. The company had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. Equities analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.
Amalgamated Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s payout ratio is currently 16.71%.
Institutional Investors Weigh In On Amalgamated Financial
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Amalgamated Financial in the 2nd quarter worth about $156,331,000. Bank of America Corp DE bought a new position in Amalgamated Financial in the second quarter valued at about $7,771,000. Bank of New York Mellon Corp bought a new position in Amalgamated Financial in the second quarter valued at about $6,931,000. Empowered Funds LLC acquired a new stake in shares of Amalgamated Financial during the second quarter valued at about $6,459,000. Finally, Globeflex Capital L P acquired a new stake in shares of Amalgamated Financial during the second quarter valued at about $4,746,000. Institutional investors own 75.93% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on AMAL shares. Weiss Ratings cut shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Piper Sandler lifted their price target 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. Raymond James Financial started coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price objective 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. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.00.
View Our Latest Stock Analysis on AMAL
Amalgamated Financial Company Profile
Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.
Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.
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