Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder United Workers sold 16,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $50.02, for a total transaction of $800,320.00. Following the sale, the insider owned 6,840,216 shares of the company’s stock, valued at approximately $342,147,604.32. The trade was a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
United Workers also recently made the following trade(s):
- 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 Friday, October 30th, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.97, for a total transaction of $1,499,100.00.
- 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 shares were 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 shares were 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 stock was 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 transaction 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 transaction of $709,200.00.
Amalgamated Financial Stock Performance
Shares of AMAL stock opened at $49.89 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $48.16 and a two-hundred day moving average of $43.98. Amalgamated Financial Corp. has a 52 week low of $26.61 and a 52 week high of $52.30. The company has a market cap of $1.49 billion, a P/E ratio of 12.26 and a beta of 0.76.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $99.17 million during the quarter, compared to analyst estimates of $99.26 million. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. As a group, analysts anticipate that Amalgamated Financial Corp. will post 4.13 EPS for the current year.
Amalgamated Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s payout ratio is currently 16.71%.
Hedge Funds Weigh In On Amalgamated Financial
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMAL. Ethic Inc. increased its position in Amalgamated Financial by 217.4% in the 3rd quarter. Ethic Inc. now owns 30,799 shares of the company’s stock valued at $1,465,000 after acquiring an additional 21,094 shares during the period. Abacus Wealth Partners LLC boosted its position in Amalgamated Financial by 6.9% during the 3rd quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company’s stock worth $2,259,000 after acquiring an additional 3,081 shares during the period. Compass Financial Management LLC boosted its position in Amalgamated Financial by 558.3% during the 3rd quarter. Compass Financial Management LLC now owns 7,834 shares of the company’s stock worth $373,000 after acquiring an additional 6,644 shares during the period. State of Wyoming acquired a new position in Amalgamated Financial during the 3rd quarter worth $71,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Amalgamated Financial by 72.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 15,766 shares of the company’s stock worth $750,000 after purchasing an additional 6,600 shares in the last quarter. 75.93% of the stock is owned by institutional investors.
Analyst Ratings Changes
AMAL has been the topic of several analyst reports. Raymond James Financial initiated coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price on the stock. Weiss Ratings downgraded shares of Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Piper Sandler boosted 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. Finally, Keefe, Bruyette & Woods upped 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.
Check Out Our Latest Research Report on AMAL
Key Headlines Impacting Amalgamated Financial
Here are the key news stories impacting Amalgamated Financial this week:
- Negative Sentiment: Repeated insider-sale disclosures could weigh on the stock by signaling that large holders are taking some gains, although the sales represent only a small reduction in their positions.
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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