United Workers Sells 44,244 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 44,244 shares of Amalgamated Financial stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $48.19, for a total transaction of $2,132,118.36. Following the sale, the insider owned 6,988,727 shares in the company, valued at $336,786,754.13. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

United Workers also recently made the following trade(s):

• 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 Performance

Shares of AMAL stock opened at $49.04 on Friday. The stock’s 50-day moving average is $48.33 and its two-hundred day moving average is $43.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $51.59. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 13.08 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. Analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial’s payout ratio is 18.13%.

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of AMAL. Quadrant Capital Group LLC lifted its holdings in shares of Amalgamated Financial by 11.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after purchasing an additional 312 shares during the period. Intech Investment Management LLC increased its stake in Amalgamated Financial by 3.4% in the 3rd 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 stake in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after buying an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after buying an additional 468 shares during the last quarter. Finally, CWM LLC raised its position in Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMAL. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Keefe, Bruyette & Woods lifted their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Piper Sandler increased their price target on shares of 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 assumed coverage on shares of Amalgamated Financial in a research report on Thursday. 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 given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Key Headlines Impacting Amalgamated Financial

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

• Positive Sentiment: Raymond James initiated coverage with an “Outperform” rating and a $55 price target. The target implies roughly 12% upside from the reference price of $49.04 and adds a new bullish voice to the analyst coverage. Raymond James Initiates Amalgamated Financial at Outperform With $55 Price Target
• Positive Sentiment: Zacks upgraded AMAL to Rank #2, or “Buy,” citing greater optimism about the bank holding company’s earnings prospects. The upgrade could support near-term demand for the stock. What Makes Amalgamated Financial AMAL a New Buy Stock
• Positive Sentiment: AMAL’s latest reported quarter exceeded expectations, with earnings of $1.10 per share versus a $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million. Analysts expect approximately $4.06 in full-year EPS, while the company’s quarterly dividend equates to a $0.68 annual payout and a roughly 1.4% yield.
• Neutral Sentiment: The stock remains near its one-year high of $51.59 and above its 200-day moving average of $43.41. Its valuation is approximately 13 times earnings, and the broader analyst consensus is “Moderate Buy” with a target price near $53.50.
• Negative Sentiment: Major shareholders reported multiple sales covering August 31 through September 2. The filings included sales of 73,535 shares, 44,244 shares and 15,000 shares at prices between $47.28 and $48.19. Although the reported reductions were small relative to the holders’ remaining positions of nearly 7 million shares each, continued selling near recent highs could weigh on investor sentiment. SEC ownership filing

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.