Amalgamated Financial Corp. (NASDAQ:AMAL) Stock Position Raised by Fmr LLC

Fmr LLC lifted its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 198.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,663 shares of the company’s stock after purchasing an additional 23,697 shares during the period. Fmr LLC’s holdings in Amalgamated Financial were worth $1,119,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its holdings in Amalgamated Financial by 679.7% during the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after buying an additional 1,203 shares during the period. US Bancorp DE boosted its holdings in shares of Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Amalgamated Financial in the third quarter worth approximately $214,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Amalgamated Financial during the second quarter valued at approximately $213,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Amalgamated Financial Stock Performance

AMAL stock opened at $35.47 on Tuesday. The firm has a 50 day simple moving average of $34.88 and a 200 day simple moving average of $31.16. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19. The stock has a market cap of $1.09 billion, a P/E ratio of 10.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The company had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same quarter last year, the business posted $0.76 EPS. Research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $0.12 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMAL shares. Piper Sandler lifted their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at Amalgamated Financial

In other news, major shareholder States Regional Joint Western sold 63,004 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $32.81, for a total transaction of $2,067,161.24. Following the transaction, the insider now owns 423,022 shares in the company, valued at $13,879,351.82. This represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder United Workers sold 55,000 shares of Amalgamated Financial stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the completion of the sale, the insider now directly owns 7,379,084 shares of the company’s stock, valued at approximately $274,723,297.32. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 591,849 shares of company stock worth $21,099,252 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Amalgamated Financial Profile

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.