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

Amalgamated Financial Corp. (NASDAQ:AMAL) major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 384,980 shares in the company, valued at approximately $11,537,850.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 Stock Performance

NASDAQ AMAL opened at $29.99 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. Amalgamated Financial Corp. has a fifty-two week low of $15.19 and a fifty-two week high of $33.24. The business has a fifty day moving average of $30.25 and a 200-day moving average of $26.35. The stock has a market cap of $918.89 million, a price-to-earnings ratio of 9.80 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 23.64% and a return on equity of 16.23%. During the same period in the prior year, the firm earned $0.72 EPS. As a group, 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 announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.48 annualized dividend and a yield of 1.60%. Amalgamated Financial’s payout ratio is currently 15.69%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC purchased a new stake in shares of Amalgamated Financial in the first quarter valued at $909,000. Lazard Asset Management LLC boosted its stake in Amalgamated Financial by 63.0% in the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after buying an additional 6,030 shares during the last quarter. Truist Financial Corp purchased a new stake in Amalgamated Financial in the 4th quarter valued at about $427,000. Arjuna Capital increased its stake in shares of Amalgamated Financial by 6.6% during the 4th quarter. Arjuna Capital now owns 167,994 shares of the company’s stock valued at $4,526,000 after acquiring an additional 10,448 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Amalgamated Financial by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock worth $27,096,000 after acquiring an additional 122,722 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.