Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder United Canada Council Workers Sells 44,577 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Canada Council Workers sold 44,577 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the transaction, the insider now owns 384,980 shares in the company, valued at $11,537,850.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Monday, September 9th, United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock. The stock was sold at an average price of $31.05, for a total value of $2,560,507.20.

Amalgamated Financial Trading Up 2.9 %

Shares of NASDAQ:AMAL opened at $30.87 on Friday. The company has a market capitalization of $942.28 million, a PE ratio of 10.09 and a beta of 0.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.12. Amalgamated Financial Corp. has a 12-month low of $15.19 and a 12-month high of $33.24. The business’s fifty day simple moving average is $30.32 and its 200-day simple moving average is $26.37.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $108.22 million for the quarter, compared to analyst estimates of $77.33 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors have recently bought and sold shares of AMAL. Dimensional Fund Advisors LP increased its position in shares of Amalgamated Financial by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock worth $31,716,000 after purchasing an additional 43,213 shares in the last quarter. American Century Companies Inc. grew its stake in Amalgamated Financial by 17.4% during the 2nd 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. Arjuna Capital increased its position in Amalgamated Financial by 2.5% during the 2nd quarter. Arjuna Capital now owns 176,180 shares of the company’s stock valued at $4,827,000 after buying an additional 4,319 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Amalgamated Financial by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock valued at $4,347,000 after buying an additional 4,555 shares during the last quarter. Finally, Clean Yield Group boosted its holdings in Amalgamated Financial by 0.9% in the second quarter. Clean Yield Group now owns 144,541 shares of the company’s stock worth $3,960,000 after acquiring an additional 1,332 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a report 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.