United Workers Sells 33,647 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 33,647 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.90, for a total transaction of $1,241,574.30. Following the transaction, the insider now owns 7,479,084 shares of the company’s stock, valued at $275,978,199.60. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Wednesday, November 13th, United Workers sold 55,000 shares of Amalgamated Financial stock. The stock was sold at an average price of $37.23, for a total transaction of $2,047,650.00.
• On Friday, November 8th, United Workers sold 31,844 shares of Amalgamated Financial stock. The shares were sold at an average price of $35.77, for a total value of $1,139,059.88.

Amalgamated Financial Price Performance

AMAL opened at $35.56 on Friday. The company has a market capitalization of $1.09 billion, a P/E ratio of 10.46 and a beta of 0.91. The company has a 50-day moving average of $32.88 and a 200-day moving average of $29.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. Amalgamated Financial Corp. has a 1-year low of $20.39 and a 1-year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same period in the previous year, the business posted $0.76 EPS. Equities analysts expect that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is 14.12%.

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently bought and sold shares of AMAL. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock valued at $5,083,000 after purchasing an additional 111,357 shares during the last quarter. American Century Companies Inc. increased its position in Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares during the last quarter. Barclays PLC raised its position in shares of Amalgamated Financial by 91.7% in the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after purchasing an additional 57,008 shares during the period. Seizert Capital Partners LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter worth about $1,781,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Amalgamated Financial during the 3rd quarter valued at $1,612,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.