Insider Selling: Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells 31,844 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Workers sold 31,844 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the sale, the insider now directly owns 7,512,731 shares in the company, valued at approximately $268,730,387.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 transaction of $1,241,574.30.

Amalgamated Financial Stock Down 0.1 %

Shares of Amalgamated Financial stock traded down $0.02 during trading hours on Wednesday, hitting $36.67. The company had a trading volume of 286,836 shares, compared to its average volume of 150,604. The company has a market cap of $1.12 billion, a P/E ratio of 10.79 and a beta of 0.91. The company’s 50-day moving average is $32.69 and its two-hundred day moving average is $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. Amalgamated Financial Corp. has a twelve month low of $20.05 and a twelve month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same quarter in the prior year, the business earned $0.76 EPS. Analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently bought and sold shares of the company. CWM LLC raised its position in Amalgamated Financial by 679.7% during the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after buying an additional 1,203 shares during the last quarter. US Bancorp DE increased its holdings in shares of Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Amalgamated Financial in the 1st quarter valued at about $126,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after purchasing an additional 528 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Amalgamated Financial during the 2nd quarter valued at about $213,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amalgamated Financial Company Profile

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.