Thu Sep 12 00:55:28 UTC 2024: ## Workers United Sells $5.1 Million Stake in Amalgamated Financial Corp.

**New York, NY** – Labor organization Workers United has divested a significant portion of its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL), according to recent filings with the Securities and Exchange Commission (SEC). The transactions, which occurred between September 9th and 11th, involved the sale of over $5.1 million worth of equity.

While the exact number of shares sold at each price point within the reported ranges is available upon request, the sales reflect a notable reduction in Workers United’s stake in the Delaware-based commercial banking institution. The move, however, is not necessarily indicative of a strategic shift for either Workers United or Amalgamated Financial Corp.

Despite the divestment, Amalgamated Financial Corp. remains a point of discussion among investors. The company’s robust financial performance, including earnings exceeding expectations by $0.13 per share in the second quarter, has fueled positive investor sentiment. This success is attributed to a significant increase in political deposits, which grew by over 20% quarter-over-quarter.

Keefe, Bruyette & Woods, a leading investment bank, has raised its price target for Amalgamated Financial’s stock from $30.00 to $35.00, maintaining an Outperform rating. The firm commended the bank’s strategic management of excess deposits, which is expected to reduce volatility in both margin and earnings leading into 2025.

Amalgamated Financial Corp.’s strong profitability, balance sheet flexibility, and tangible book value growth nearing 220% annually have also been cited as key factors contributing to the positive outlook. The bank reported a significant increase in deposits, reaching a total of $7.4 billion, and an improved Tier One leverage ratio, further solidifying its strong financial position.

With a market capitalization of approximately $919.31 million, Amalgamated Financial Corp. is a noteworthy player in the financial sector. The company’s P/E ratio of 9.2 suggests a potentially undervalued stock, particularly considering its near-term earnings growth potential.

Over the past year, Amalgamated Financial has demonstrated a strong return with a 73.31% price total return, indicating robust investor confidence. This is further reinforced by a 26.67% price total return over the last six months, adding to the positive outlook reflected in the share price.

For those seeking deeper insights into Amalgamated Financial’s financial health, the company’s revenue growth over the last twelve months as of Q2 2024 stands at 8.84%, with a quarterly revenue growth at an impressive 12.39%. This growth trajectory is an essential factor for investors assessing the company’s potential for sustained earnings.

For more insights and additional InvestingPro Tips related to Amalgamated Financial Corp., investors can visit https://www.investing.com/pro/AMAL.

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