Amalgamated Financial (NASDAQ:AMAL) Stock: Insider United Workers Sells 30,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 30,000 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $49.97, for a total transaction of $1,499,100.00. Following the completion of the transaction, the insider owned 6,886,216 shares in the company, valued at $344,104,213.52. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 stock was 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 stock was sold at an average price of $50.81, for a total transaction of $1,524,300.00.
• On Monday, September 14th, United Workers sold 228,284 shares of Amalgamated Financial stock. The shares were 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 value 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 value 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 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 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 shares were sold at an average price of $48.19, for a total value of $2,132,118.36.
• On Tuesday, September 1st, United Workers sold 15,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.28, for a total transaction of $709,200.00.

Amalgamated Financial Trading Up 1.9%

Shares of AMAL stock opened at $50.82 on Thursday. Amalgamated Financial Corp. has a 1 year low of $26.61 and a 1 year high of $52.30. The firm’s fifty day simple moving average is $48.21 and its 200 day simple moving average is $44.06. The firm has a market capitalization of $1.52 billion, a P/E ratio of 12.38 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a net margin of 24.57% and a return on equity of 15.00%. The firm had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business 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. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.71%.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of research analyst reports. Raymond James Financial began coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective for the company. Piper Sandler lifted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings lowered Amalgamated Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Amalgamated Financial News Roundup

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: In its latest reported quarter, Amalgamated Financial earned $1.14 per share, above the $1.08 consensus estimate. Revenue was slightly below expectations, limiting the strength of the beat.
• Negative Sentiment: Major shareholder United Workers sold 16,000 shares for about $800,000 on November 3, following sales of 30,000 shares on each of October 30 and November 2. The sales may signal some profit-taking, but each reduced its reported position by less than 0.5%; it retained about 6.84 million shares. Article: Amalgamated Financial Stock: Insider United Workers Sells 16,000 Shares

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Amalgamated Financial by 172.0% in the third quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock worth $35,000 after purchasing an additional 461 shares during the period. Nisa Investment Advisors LLC boosted its stake in Amalgamated Financial by 81.9% during the third 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. Integrated Wealth Concepts LLC bought a new stake in Amalgamated Financial in the 2nd quarter valued at $30,000. First Trust Advisors LP increased its holdings in Amalgamated Financial by 3.2% in the 1st quarter. First Trust Advisors LP now owns 22,293 shares of the company’s stock valued at $867,000 after buying an additional 685 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Amalgamated Financial by 4.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock valued at $853,000 after buying an additional 751 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.