Amalgamated Financial Corp. (NASDAQ:AMAL) Major Shareholder United Canada Council Workers Sells 82,464 Shares of 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 sale, the insider now directly owns 440,401 shares in the company, valued at $13,674,451.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares 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 stock was sold at an average price of $29.97, for a total value of $1,335,972.69.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $29.99 on Thursday. 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 has a 50 day moving average of $30.17 and a two-hundred day moving average of $26.32. Amalgamated Financial Corp. has a 52 week low of $15.19 and a 52 week high of $33.24. The company has a market cap of $918.89 million, a P/E ratio of 9.80 and a beta of 0.93.

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

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were given 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 1.60%. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted 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 buying an additional 43,213 shares during the period. 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 worth $11,748,000 after buying an additional 63,561 shares during the period. Arjuna Capital boosted its position in shares of 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 during the period. Bank of New York Mellon Corp raised its holdings in Amalgamated Financial by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after purchasing an additional 4,555 shares in the last quarter. Finally, Clean Yield Group raised its holdings in Amalgamated Financial by 0.9% during the second quarter. Clean Yield Group now owns 144,541 shares of the company’s stock worth $3,960,000 after purchasing 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 Analyst Weigh In

A number of equities analysts recently commented on AMAL shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on 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.