Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $1,139,059.88 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 31,844 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.77, for a total value of $1,139,059.88. Following the transaction, the insider now owns 7,512,731 shares in the company, valued at approximately $268,730,387.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% 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 Wednesday, November 13th, United Workers sold 55,000 shares of Amalgamated Financial stock. The shares were sold at an average price of $37.23, for a total value of $2,047,650.00.
• On Monday, November 11th, United Workers sold 33,647 shares of Amalgamated Financial stock. The shares were sold at an average price of $36.90, for a total value of $1,241,574.30.

Amalgamated Financial Stock Performance

Shares of NASDAQ:AMAL traded down $0.02 during trading on Wednesday, hitting $36.67. 286,836 shares of the company were exchanged, compared to its average volume of 150,604. Amalgamated Financial Corp. has a 52-week low of $20.05 and a 52-week high of $38.19. The stock has a 50 day moving average of $32.69 and a 200 day moving average of $29.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $1.12 billion, a PE ratio of 10.79 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million for the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same quarter last year, the business posted $0.76 earnings per share. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds have recently added to or reduced their stakes in AMAL. Rhumbline Advisers raised its position in shares of Amalgamated Financial by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after buying an additional 393 shares in the last quarter. US Bancorp DE lifted its stake in shares of Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Amalgamated Financial by 1.7% in the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after purchasing an additional 616 shares during the period. Finally, Quest Partners LLC boosted its position in Amalgamated Financial by 6.9% during the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after acquiring an additional 646 shares during the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.