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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 15,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $47.28, for a total transaction of $709,200.00. Following the completion of the transaction, the insider owned 7,032,971 shares of the company’s stock, valued at $332,518,868.88. This represents a 0.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 transaction of $2,132,118.36.
• On Monday, August 31st, United Workers sold 73,535 shares of Amalgamated Financial stock. The stock was sold at an average price of $48.12, for a total transaction of $3,538,504.20.

Amalgamated Financial Trading Up 1.9%

Shares of NASDAQ:AMAL opened at $49.04 on Friday. The company has a 50 day moving average of $48.33 and a 200-day moving average of $43.47. The firm has a market cap of $1.47 billion, a P/E ratio of 13.08 and a beta of 0.79. Amalgamated Financial Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. 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 posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $92.09 million. As a group, analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Amalgamated Financial News Roundup

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

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of AMAL. Amundi acquired a new position in shares of Amalgamated Financial in the 2nd quarter worth $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Amalgamated Financial during the second quarter worth $421,000. California State Teachers Retirement System lifted its holdings in shares of Amalgamated Financial by 4,999.4% during the second quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock valued at $38,424,000 after purchasing an additional 820,708 shares during the last quarter. Compass Financial Management LLC purchased a new stake in shares of Amalgamated Financial during the second quarter valued at $59,000. Finally, Nwam LLC boosted its position in shares of Amalgamated Financial by 57.0% in the 2nd quarter. Nwam LLC now owns 27,204 shares of the company’s stock valued at $1,249,000 after purchasing an additional 9,875 shares during the period. 75.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMAL has been the topic of a number of research reports. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Piper Sandler lifted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Raymond James Financial started coverage on shares of Amalgamated Financial in a research report on Thursday. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price target 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. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amalgamated Financial has an average rating of “Moderate Buy” and a consensus target price of $54.00.

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.