Key Points
- Major shareholder United Workers sold 73,535 Amalgamated Financial shares for approximately $3.54 million at an average price of $48.12, reducing its position by 1.03% while retaining 7.05 million shares.
- Amalgamated Financial recently exceeded quarterly expectations, reporting $1.10 in EPS versus a $1.00 estimate and $96.1 million in revenue versus $92.09 million expected. The company also pays a quarterly dividend of $0.17, equivalent to a 1.4% annualized yield.
- Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and a $53.50 target price; however, repeated major-shareholder sales near recent highs could weigh on investor sentiment.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder United Workers sold 15,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $47.28, for a total transaction of $709,200.00. Following the completion of the sale, the insider owned 7,032,971 shares of the company's stock, valued at $332,518,868.88. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 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 Price Performance
AMAL stock opened at $48.14 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The company's 50-day moving average is $48.27 and its 200-day moving average is $43.41. The stock has a market capitalization of $1.44 billion, a PE ratio of 12.84 and a beta of 0.79. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $51.59.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, beating 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 business had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. Equities research analysts expect that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.
Amalgamated Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial's payout ratio is currently 18.13%.
Key Stories Impacting Amalgamated Financial
Here are the key news stories impacting Amalgamated Financial this week:
- Positive Sentiment: Zacks upgraded AMAL to a Rank #2 (Buy), citing improving optimism around the company’s earnings prospects. The upgrade may provide near-term support for the shares, particularly after Amalgamated Financial’s latest quarterly results exceeded analyst expectations for both earnings and revenue. What Makes Amalgamated Financial AMAL a New Buy Stock
- Neutral Sentiment: AMAL remains financially profitable, with the company’s latest reported quarter showing $1.10 in earnings per share versus a $1.00 consensus estimate and $96.1 million in revenue versus a $92.09 million estimate. Analysts are forecasting approximately $4.06 in full-year EPS, supporting a relatively modest valuation at roughly 12.8 times earnings.
- Negative Sentiment: Major shareholders reported selling shares across August 31, September 1, and September 2. The reported transactions totaled 265,558 shares and approximately $12.76 million when counting the matching filings from United Workers and States Regional Joint Western. Each entity’s reported position fell by about 1.87% across the three sessions, although each still held approximately 6.99 million shares afterward. The sales may weigh on sentiment because they indicate insider-level holders are reducing exposure near recent highs. SEC ownership filing SEC ownership filing
Institutional Investors Weigh In On Amalgamated Financial
Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised 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 valued at $34,000 after buying an additional 391 shares during the last quarter. Arax Advisory Partners boosted its holdings in Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock worth $41,000 after acquiring an additional 827 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Amalgamated Financial by 143.8% in the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock worth $57,000 after acquiring an additional 876 shares in the last quarter. Compass Financial Management LLC purchased a new stake in shares of Amalgamated Financial in the second quarter valued at about $59,000. Finally, CWM LLC raised its holdings in shares of Amalgamated Financial by 41.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $60,000 after purchasing an additional 549 shares during the last quarter. Institutional investors own 75.93% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on AMAL. Keefe, Bruyette & Woods increased their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Piper Sandler upped their price objective 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. Weiss Ratings raised shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Two equities research 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.50.
View Our Latest Stock Report on Amalgamated Financial
About Amalgamated Financial
(
Get Free Report)
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.
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