United Workers Sells 55,000 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 55,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the transaction, the insider now owns 7,379,084 shares in the company, valued at approximately $274,723,297.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 11th, United Workers sold 33,647 shares of Amalgamated Financial stock. The stock was sold at an average price of $36.90, for a total transaction of $1,241,574.30.
• On Friday, November 8th, United Workers sold 31,844 shares of Amalgamated Financial stock. The shares were sold at an average price of $35.77, for a total value of $1,139,059.88.

Amalgamated Financial Trading Down 0.1 %

NASDAQ:AMAL opened at $36.67 on Thursday. The business’s 50-day moving average price is $32.69 and its two-hundred day moving average price is $29.43. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.79 and a beta of 0.91. Amalgamated Financial Corp. has a 1-year low of $20.05 and a 1-year high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. The business had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. During the same quarter last year, the firm earned $0.76 EPS. On average, equities analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. Amalgamated Financial’s payout ratio is 14.12%.

Hedge Funds Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after acquiring an additional 63,561 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Amalgamated Financial during the first quarter valued at about $909,000. LSV Asset Management purchased a new position in shares of Amalgamated Financial during the second quarter valued at approximately $1,378,000. Deerfield Management Company L.P. Series C purchased a new position in Amalgamated Financial during the second quarter worth about $1,219,000. Finally, Lazard Asset Management LLC grew its position in Amalgamated Financial by 63.0% during the first quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after buying an additional 6,030 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.