United Workers Sells 15,000 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Key Points

• United Workers sold 15,000 Amalgamated Financial shares for approximately $709,200 at an average price of $47.28, reducing its ownership by 0.21% to 7.03 million shares. The major shareholder also sold more than 117,000 shares in related transactions around the same period.
• Amalgamated Financial shares traded at $48.14, near their 12-month high of $51.59. The company recently beat quarterly estimates, reporting $1.10 in EPS and $96.1 million in revenue, versus analyst expectations of $1.00 and $92.09 million.
• The company maintains a quarterly dividend of $0.17, equal to a 1.4% annualized yield. Analysts hold a “Moderate Buy” consensus rating with an average price target of $53.50, while institutional investors own 75.93% of the stock.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder United Workers sold 15,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $47.28, for a total value of $709,200.00. Following the transaction, the insider directly owned 7,032,971 shares in the company, valued at $332,518,868.88. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 Monday, August 31st, United Workers sold 73,535 shares of Amalgamated Financial stock. The shares were sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock traded up $0.80 during midday trading on Wednesday, hitting $48.14. The company had a trading volume of 193,113 shares, compared to its average volume of 151,402. The company has a fifty day simple moving average of $48.27 and a 200 day simple moving average of $43.41. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $51.59.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The business had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. As a group, analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, August 4th. Amalgamated Financial's dividend payout ratio (DPR) is presently 18.13%.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of Amalgamated Financial by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company's stock valued at $100,000 after purchasing an additional 312 shares in the last quarter. Intech Investment Management LLC grew its position in Amalgamated Financial by 3.4% during the third quarter. Intech Investment Management LLC now owns 11,628 shares of the company's stock valued at $316,000 after buying an additional 383 shares during the period. Osaic Holdings Inc. increased its holdings in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock valued at $34,000 after buying an additional 391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock worth $306,000 after acquiring an additional 468 shares during the period. Finally, CWM LLC raised its position in shares of Amalgamated Financial by 41.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the company's stock worth $60,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Piper Sandler raised their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.50.

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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