United Workers Sells 42,910 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 42,910 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $48.56, for a total value of $2,083,709.60. Following the sale, the insider owned 198,782 shares in the company, valued at $9,652,853.92. The trade was a 17.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 shares were sold at an average price of $47.28, for a total value of $709,200.00.
• 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 value of $3,538,504.20.

Amalgamated Financial Stock Performance

Shares of AMAL opened at $47.83 on Thursday. The stock has a market capitalization of $1.43 billion, a PE ratio of 12.75 and a beta of 0.79. The business’s fifty day moving average price is $48.49 and its 200 day moving average price is $43.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last released 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 firm had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Equities research analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMAL. Piper Sandler raised their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price target on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Raymond James Financial began coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Amalgamated Financial currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Amalgamated Financial News Roundup

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.

Institutional Trading of Amalgamated Financial

Large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Amalgamated Financial in the 2nd quarter valued at about $30,000. Osaic Holdings Inc. grew its position in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the last quarter. Compass Financial Management LLC bought a new position in Amalgamated Financial in the 2nd quarter worth about $59,000. Arax Advisory Partners increased its stake in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after buying an additional 876 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.