Workers United Divests $5.1M Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)
Workers United, a collective of labor organizations, recently sold a significant portion of its holdings in Amalgamated Financial Corp. The transactions took place over several days, resulting in the sale of equity worth over $5.1 million.
The sales occurred at varying prices, with shares being sold between $29.84 and $31.2350. The total value of the shares sold was approximately $5,182,238, indicating a notable reduction in their stake in the financial institution.
This standard disclosure does not necessarily indicate a strategic shift for Workers United or Amalgamated Financial Corp. Investors often analyze such sales for insights into institutional sentiment toward the stock.
In other news, Amalgamated Bank has reported strong financial performance, surpassing earnings expectations in the second quarter. Keefe, Bruyette & Woods raised the price target for the bank's stock, praising its strategy and solid financial position.
InvestingPro Insights:
- Amalgamated Financial Corp. has a market capitalization of approximately $919.31 million.
- The company's P/E ratio suggests a potentially undervalued stock with strong near-term earnings growth potential.
- Amalgamated Financial has demonstrated significant price total return over the past year, indicating robust investor confidence.
- Analysts have revised earnings upwards, signaling future profitability and strong performance.
For more insights and tips related to Amalgamated Financial Corp., visit InvestingPro for a comprehensive analysis of the company's financials and market performance.