United Workers Sells 68,783 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 68,783 shares of Amalgamated Financial stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $49.20, for a total transaction of $3,384,123.60. Following the completion of the sale, the insider owned 228,674 shares of the company’s stock, valued at $11,250,760.80. This represents a 23.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 transaction of $2,083,709.60.
• On Thursday, September 3rd, United Workers sold 44,658 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.43, for a total transaction of $2,207,444.94.
• 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 stock was 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 Price Performance

Shares of AMAL opened at $47.83 on Thursday. The firm has a fifty day simple moving average of $48.49 and a two-hundred day simple moving average of $43.69. The firm has a market cap of $1.43 billion, a PE ratio of 12.75 and a beta of 0.79. 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 Corp. has a 1-year low of $25.13 and a 1-year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. On average, equities analysts anticipate that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend 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%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMAL. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. 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 target price for the company. Keefe, Bruyette & Woods upped 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 raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, 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 report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Amalgamated Financial currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Trading of Amalgamated Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Amalgamated Financial during the 2nd quarter valued at approximately $156,331,000. Vanguard Group Inc. lifted its holdings in Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amalgamated Financial by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock worth $38,205,000 after purchasing an additional 54,885 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after purchasing an additional 120,483 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Amalgamated Financial by 4,999.4% in the second quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after purchasing an additional 820,708 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Trending Headlines about Amalgamated Financial

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

• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million expected. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $54, above recent trading levels. Amalgamated Financial stock analysis
• Positive Sentiment: Amalgamated Financial continues to pay a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: The stock remains near its 52-week high, while its 200-day moving average is well below the current level, indicating strong longer-term momentum but also a relatively elevated valuation after its substantial advance.
• Negative Sentiment: Major shareholder States Regional Joint Western reported selling 42,910 shares on September 8 at an average price of $48.56, worth approximately $2.08 million. The transaction reduced its reported position by 17.75%. September 8 SEC filing
• Negative Sentiment: Additional sales of 68,783 shares on September 4 and 44,658 shares on September 3 generated roughly $5.59 million in proceeds. Including the September 8 transaction, these reported sales totaled 156,351 shares and approximately $7.68 million, weighing on investor sentiment.
• Negative Sentiment: The same disclosure also lists further sales from August 31 through September 2, bringing the reported selling over that period to roughly 289,000 shares and $14.1 million. Although these transactions may reflect portfolio management rather than deteriorating company fundamentals, their frequency and size create a near-term supply overhang for AMAL.

Amalgamated Financial Company Profile

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.