Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder Sells $2,560,507.20 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $2,560,507.20. Following the transaction, the insider now owns 440,401 shares in the company, valued at $13,674,451.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

United Canada Council Workers also recently made the following trade(s):

• On Wednesday, September 11th, United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock. The shares were sold at an average price of $29.97, for a total transaction of $1,335,972.69.

Amalgamated Financial Trading Up 2.9 %

Shares of Amalgamated Financial stock opened at $30.87 on Friday. Amalgamated Financial Corp. has a 12-month low of $15.19 and a 12-month high of $33.24. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $30.32 and its 200-day moving average is $26.37. The stock has a market cap of $942.28 million, a P/E ratio of 10.09 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The firm had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $77.33 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same period in the previous year, the business posted $0.72 earnings per share. Equities research analysts predict that Amalgamated Financial Corp. will post 3.29 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.48 annualized dividend and a yield of 1.55%. Amalgamated Financial’s dividend payout ratio is currently 15.69%.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after purchasing an additional 1,203 shares during the period. Parallel Advisors LLC lifted its position in Amalgamated Financial by 50.5% during the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after purchasing an additional 548 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Amalgamated Financial during the first quarter worth about $126,000. DekaBank Deutsche Girozentrale increased its holdings in 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 buying an additional 528 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $213,000. Institutional investors own 75.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AMAL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th.

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.