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

by · The Markets Daily

Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) major shareholder United Workers sold 31,844 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the completion of the transaction, the insider now owns 7,512,731 shares of the company’s stock, valued at approximately $268,730,387.87. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 stock was sold at an average price of $36.90, for a total value of $1,241,574.30.

Amalgamated Financial Trading Down 2.5 %

NASDAQ AMAL opened at $35.56 on Friday. Amalgamated Financial Corp. has a one year low of $20.39 and a one year high of $38.19. 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 business has a 50 day simple moving average of $32.88 and a 200 day simple moving average of $29.56. The stock has a market capitalization of $1.09 billion, a P/E ratio of 10.46 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. The company had revenue of $111.76 million during the quarter, compared to analyst estimates 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 previous year, the business posted $0.76 EPS. Research analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $0.12 per share. 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 currently 14.12%.

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMAL. Dimensional Fund Advisors LP raised its holdings in shares of Amalgamated Financial by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock worth $31,716,000 after acquiring an additional 43,213 shares during the last quarter. State Street Corp lifted its holdings in shares of Amalgamated Financial by 4.9% in the third quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after purchasing an additional 33,095 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after buying an additional 63,561 shares during the last quarter. Arjuna Capital grew its holdings in Amalgamated Financial by 2.5% during the second quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after buying an additional 4,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock valued at $5,083,000 after buying an additional 111,357 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Analysis on Amalgamated Financial

About Amalgamated Financial

(Get Free Report)

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.

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