Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Major Shareholder Sells $800,320.00 in Stock

Key Points

• Major shareholder United Workers sold 16,000 Amalgamated Financial shares at an average $50.02 each, worth about $800,320. It retained 6.84 million shares after the sale; the article also notes several other recent sales.
• Amalgamated Financial shares fell 1.4% to $49.89 in Tuesday trading. The company’s latest quarterly EPS of $1.14 beat analyst expectations of $1.08, while revenue was slightly below consensus.
• The company announced 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 16,000 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $50.02, for a total value of $800,320.00. Following the completion of the sale, the insider owned 6,840,216 shares in the company, valued at $342,147,604.32. The trade was a 0.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's shares 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 value 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 stock was 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 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 shares were 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 shares were sold at an average price of $47.28, for a total transaction of $709,200.00.

Amalgamated Financial Stock Down 1.4%

AMAL stock traded down $0.71 during midday trading on Tuesday, hitting $49.89. The company's stock had a trading volume of 155,330 shares, compared to its average volume of 220,777. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. Amalgamated Financial Corp. has a twelve month low of $26.61 and a twelve month high of $52.30. The company's fifty day moving average price is $48.16 and its 200 day moving average price is $43.98. The stock has a market capitalization 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 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. Amalgamated Financial had a net margin of 24.57% and a return on equity of 15.00%. The company had revenue of $99.17 million during the quarter, compared to the consensus estimate of $99.26 million. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial's payout ratio is currently 16.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ethic Inc. increased its stake in shares of Amalgamated Financial by 217.4% during the 3rd quarter. Ethic Inc. now owns 30,799 shares of the company's stock worth $1,465,000 after purchasing an additional 21,094 shares during the last quarter. Abacus Wealth Partners LLC raised its holdings in shares of Amalgamated Financial by 6.9% in the 3rd quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company's stock valued at $2,259,000 after purchasing an additional 3,081 shares during the period. Compass Financial Management LLC lifted its stake in Amalgamated Financial by 558.3% in the 3rd quarter. Compass Financial Management LLC now owns 7,834 shares of the company's stock valued at $373,000 after purchasing an additional 6,644 shares during the last quarter. State of Wyoming acquired a new stake in Amalgamated Financial in the 3rd quarter valued at about $71,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Amalgamated Financial by 72.0% during 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 during the period. Institutional investors own 75.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMAL. Keefe, Bruyette & Woods increased their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings lowered Amalgamated Financial from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Piper Sandler upped their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Raymond James Financial began coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They set an "outperform" rating and a $55.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Amalgamated Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

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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