Amalgamated Financial (NASDAQ:AMAL) Stock: Insider United Workers Sells 92,809 Shares

Key Points

• United Workers sold 92,809 Amalgamated Financial shares at an average of $50.86, generating about $4.72 million. After the sale, it retained 6.75 million shares, a 1.36% reduction in its ownership.
• Amalgamated Financial reported quarterly earnings of $1.14 per share, beating the $1.08 analyst consensus; revenue of $99.17 million was slightly below estimates.
• The company declared a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 1.4% yield. Analysts’ consensus rating was “Moderate Buy,” with a $54 price target.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder United Workers sold 92,809 shares of Amalgamated Financial stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $50.86, for a total transaction of $4,720,265.74. Following the sale, the insider owned 6,747,407 shares in the company, valued at approximately $343,173,120.02. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 Tuesday, November 3rd, United Workers sold 16,000 shares of Amalgamated Financial stock. The shares were 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $49.20, for a total value 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 value 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.

Amalgamated Financial Price Performance

NASDAQ AMAL traded up $0.23 on Friday, reaching $49.59. 10,613 shares of the stock traded hands, compared to its average volume of 182,571. Amalgamated Financial Corp. has a 12 month low of $26.61 and a 12 month high of $52.30. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 12.18 and a beta of 0.76. The firm's fifty day simple moving average is $48.22 and its 200 day simple moving average is $44.14. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.07.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. The company had revenue of $99.17 million for the quarter, compared to the consensus estimate of $99.26 million. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. As a group, research analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial's payout ratio is 16.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on AMAL. Weiss Ratings lowered shares of Amalgamated Financial from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They set an "outperform" rating and a $55.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Finally, Piper Sandler lifted their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMAL. Integrated Wealth Concepts LLC purchased a new position in Amalgamated Financial during the 2nd quarter valued at about $30,000. Farther Finance Advisors LLC increased its stake in Amalgamated Financial by 172.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 729 shares of the company's stock valued at $35,000 after buying an additional 461 shares during the period. Compass Financial Management LLC purchased a new stake in Amalgamated Financial in the 2nd quarter worth approximately $59,000. Nisa Investment Advisors LLC lifted its position in Amalgamated Financial by 81.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company's stock worth $68,000 after buying an additional 644 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Amalgamated Financial during the 3rd quarter valued at $71,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

About Amalgamated Financial

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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