Key Points
- Major shareholder United Workers sold 30,000 Amalgamated Financial shares at an average of $49.97, for about $1.5 million. It retained approximately 6.89 million shares after the sale; the article also lists several other recent sales by the shareholder.
- Amalgamated Financial reported quarterly EPS of $1.14, beating the $1.08 analyst consensus, while revenue of $99.17 million came in slightly below estimates.
- Analysts’ consensus rating is “Moderate Buy,” with an average price target of $54. The company also announced a quarterly dividend of $0.17 per share, equivalent to a 1.4% annualized yield.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder United Workers sold 16,000 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $50.02, for a total transaction of $800,320.00. Following the transaction, the insider directly owned 6,840,216 shares in the company, valued at approximately $342,147,604.32. The trade was a 0.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 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 Monday, November 2nd, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.81, for a total transaction of $1,524,300.00.
- On Friday, October 30th, United Workers sold 30,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $49.97, for a total transaction of $1,499,100.00.
- On Monday, September 14th, United Workers sold 228,284 shares of Amalgamated Financial stock. The stock was sold at an average price of $47.84, for a total transaction of $10,921,106.56.
- On Friday, September 11th, United Workers sold 234,128 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.88, for a total transaction of $11,210,048.64.
- On Wednesday, September 9th, United Workers sold 79,649 shares of Amalgamated Financial stock. The shares were sold at an average price of $47.91, for a total transaction of $3,815,983.59.
- 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 Friday, September 4th, United Workers sold 68,783 shares of Amalgamated Financial stock. The shares were sold at an average price of $49.20, for a total transaction 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 stock was 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 stock was sold at an average price of $47.28, for a total value of $709,200.00.
Amalgamated Financial Stock Performance
AMAL opened at $49.89 on Wednesday. The business has a 50 day moving average price of $48.16 and a two-hundred day moving average price of $43.98. 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 has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.26 and a beta of 0.76. Amalgamated Financial Corp. has a 1-year low of $26.61 and a 1-year high of $52.30.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. The company had revenue of $99.17 million for the quarter, compared to analysts' expectations of $99.26 million. Research analysts predict that Amalgamated Financial Corp. will post 4.13 EPS for the current fiscal year.
Amalgamated Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial's dividend payout ratio is 16.71%.
Institutional Trading of Amalgamated Financial
A number of large investors have recently added to or reduced their stakes in the business. Ethic Inc. grew its position in Amalgamated Financial by 217.4% in the third quarter. Ethic Inc. now owns 30,799 shares of the company's stock worth $1,465,000 after buying an additional 21,094 shares during the last quarter. Abacus Wealth Partners LLC increased its holdings in shares of Amalgamated Financial by 6.9% in the third quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company's stock valued at $2,259,000 after buying an additional 3,081 shares in the last quarter. Compass Financial Management LLC increased its holdings in shares of Amalgamated Financial by 558.3% in the third quarter. Compass Financial Management LLC now owns 7,834 shares of the company's stock valued at $373,000 after buying an additional 6,644 shares in the last quarter. State of Wyoming acquired a new stake in shares of Amalgamated Financial during the 3rd quarter valued at $71,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Amalgamated Financial by 72.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 15,766 shares of the company's stock valued at $750,000 after acquiring an additional 6,600 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
AMAL has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Weiss Ratings cut shares of Amalgamated Financial from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Piper Sandler upped their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Raymond James Financial initiated coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 price target for the company. Three equities 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 presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.
Read Our Latest Analysis on Amalgamated Financial
Key Stories Impacting Amalgamated Financial
Here are the key news stories impacting Amalgamated Financial this week:
- Negative Sentiment: Repeated insider-sale disclosures could weigh on the stock by signaling that large holders are taking some gains, although the sales represent only a small reduction in their positions.
About Amalgamated Financial
(
Get Free Report)
Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.
Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.
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