Key Points
- Major shareholder United Workers sold 92,809 Amalgamated Financial shares at an average $50.86, totaling about $4.72 million. The sale reduced its position by 1.36%, though it still owned 6.75 million shares afterward.
- United Workers has also reported multiple recent sales, including 76,000 shares across November 2–3 and larger sales in September.
- Amalgamated Financial’s latest quarterly EPS of $1.14 topped the $1.08 consensus estimate; analysts’ consensus rating is “Moderate Buy,” with a $54 price target.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) major shareholder United Workers sold 92,809 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $50.86, for a total transaction of $4,720,265.74. Following the sale, the insider owned 6,747,407 shares of the company's stock, valued at $343,173,120.02. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
United Workers also recently made the following trade(s):
- On Tuesday, November 3rd, United Workers sold 16,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $50.02, for a total transaction of $800,320.00.
- 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 value 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 shares were 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 stock was sold at an average price of $47.88, for a total value of $11,210,048.64.
- On Wednesday, September 9th, United Workers sold 79,649 shares of Amalgamated Financial stock. The stock was 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 stock was sold at an average price of $48.56, for a total value of $2,083,709.60.
- 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 transaction of $3,384,123.60.
- 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.
Amalgamated Financial Stock Performance
NASDAQ:AMAL opened at $49.56 on Friday. The business has a 50 day moving average price of $48.24 and a 200-day moving average price of $44.21. Amalgamated Financial Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $52.30. The firm has a market cap of $1.48 billion, a PE ratio of 12.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The firm had revenue of $99.17 million during the quarter, compared to analysts' expectations of $99.26 million. Amalgamated Financial had a return on equity of 15.00% and a net margin of 24.57%. Equities research analysts predict that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.
Amalgamated Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial's payout ratio is currently 16.71%.
Hedge Funds Weigh In On Amalgamated Financial
A number of institutional investors and hedge funds have recently made changes to their positions in AMAL. Farther Finance Advisors LLC increased its stake in Amalgamated Financial by 172.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 729 shares of the company's stock worth $35,000 after purchasing an additional 461 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Amalgamated Financial by 81.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company's stock worth $68,000 after acquiring an additional 644 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Amalgamated Financial in the second quarter valued at approximately $30,000. First Trust Advisors LP increased its holdings in shares of Amalgamated Financial by 3.2% in the 1st quarter. First Trust Advisors LP now owns 22,293 shares of the company's stock worth $867,000 after purchasing an additional 685 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Amalgamated Financial by 4.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company's stock worth $853,000 after acquiring an additional 751 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on AMAL. Keefe, Bruyette & Woods increased their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Raymond James Financial assumed coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 price objective on the stock. Piper Sandler boosted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Finally, Weiss Ratings lowered shares of Amalgamated Financial from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.
Read Our Latest Research Report on AMAL
Amalgamated Financial Company Profile
(
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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