United Workers Sells 44,658 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Key Points

• United Workers sold 44,658 Amalgamated Financial shares for approximately $2.21 million at an average price of $49.43, reducing its position by 13.99% to 274,475 shares. The shareholder also conducted several additional sales in late August and early September.
• Amalgamated Financial shares fell 1.9% to $48.22, while the company reported quarterly EPS of $1.10 and revenue of $96.1 million, exceeding analyst expectations.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and a $54 average price target; Raymond James initiated coverage with an “outperform” rating and a $55 target.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder United Workers sold 44,658 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $2,207,444.94. Following the sale, the insider owned 274,475 shares of the company's stock, valued at $13,567,299.25. This trade represents a 13.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 value 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 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 shares were sold at an average price of $47.28, for a total transaction of $709,200.00.
• 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 Down 1.9%

Amalgamated Financial stock traded down $0.95 during midday trading on Tuesday, hitting $48.22. 242,943 shares of the stock were exchanged, compared to its average volume of 164,061. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $51.59. 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's 50-day moving average price is $48.43 and its 200-day moving average price is $43.58. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.86 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The firm had revenue of $96.10 million for the quarter, compared to analysts' expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. On average, research analysts expect that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial's payout ratio is 18.13%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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 note on Friday, July 24th. Zacks Research upgraded Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Weiss Ratings raised Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Piper Sandler upped their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Raymond James Financial assumed coverage on Amalgamated Financial in a report on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Amalgamated Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock valued at $306,000 after buying an additional 468 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Amalgamated Financial by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company's stock worth $1,872,000 after acquiring an additional 9,500 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Amalgamated Financial by 373.1% in the first quarter. Jane Street Group LLC now owns 44,284 shares of the company's stock worth $1,273,000 after acquiring an additional 34,923 shares during the period. Legal & General Group Plc boosted its holdings in shares of Amalgamated Financial by 11.6% in the second quarter. Legal & General Group Plc now owns 21,476 shares of the company's stock worth $670,000 after acquiring an additional 2,231 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Amalgamated Financial by 27.9% in the second quarter. Rhumbline Advisers now owns 35,442 shares of the company's stock valued at $1,106,000 after purchasing an additional 7,741 shares in the last quarter. 75.93% of the stock is owned by institutional investors.

About Amalgamated Financial

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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