State Street Corp Boosts Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

State Street Corp raised its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,868 shares of the company’s stock after buying an additional 33,095 shares during the period. State Street Corp’s holdings in Amalgamated Financial were worth $22,112,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Amalgamated Financial by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after acquiring an additional 43,213 shares during the last quarter. American Century Companies Inc. boosted its holdings in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after purchasing an additional 63,561 shares in the last quarter. Arjuna Capital increased its stake in Amalgamated Financial by 2.5% in the second quarter. Arjuna Capital now owns 176,180 shares of the company’s stock valued at $4,827,000 after purchasing an additional 4,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after purchasing an additional 111,357 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Amalgamated Financial by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after buying an additional 4,555 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amalgamated Financial

In other news, EVP Sean Searby sold 8,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total value of $273,120.00. Following the completion of the sale, the executive vice president now owns 15,802 shares in the company, valued at approximately $539,480.28. This trade represents a 33.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Regional Joint Board Rochester sold 55,875 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the transaction, the insider now owns 355,893 shares in the company, valued at approximately $12,214,247.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 591,849 shares of company stock worth $21,099,252 in the last quarter. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

AMAL has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price objective on Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $33.64 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.03 billion, a P/E ratio of 9.89 and a beta of 0.91. The stock has a 50 day moving average of $35.05 and a two-hundred day moving average of $31.41. Amalgamated Financial Corp. has a twelve month low of $21.33 and a twelve month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping 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 firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. During the same quarter in the prior year, the business earned $0.76 EPS. On average, research analysts forecast that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

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.