1,007 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Bought by USA Financial Formulas

USA Financial Formulas bought a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,007 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AMAL. Rhumbline Advisers lifted its position in shares of Amalgamated Financial by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after acquiring an additional 393 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Amalgamated Financial in the second quarter valued at $213,000. American Century Companies Inc. boosted its position in shares of Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Amalgamated Financial by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 90,807 shares of the company’s stock valued at $2,488,000 after buying an additional 3,047 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insider Transactions at Amalgamated Financial

In other news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the 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 of the company’s stock, valued at approximately $12,214,247.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sean Searby sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 15,802 shares in the company, valued at $539,480.28. The trade was a 33.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 591,849 shares of company stock worth $21,099,252 in the last 90 days. 0.90% of the stock is owned by insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $36.10 on Friday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 10.62 and a beta of 0.93. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. 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 business has a fifty day simple moving average of $34.88 and a 200 day simple moving average of $32.51.

Amalgamated Financial (NASDAQ:AMAL) last posted 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. The company had revenue of $111.76 million during the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same period last year, the business earned $0.76 EPS. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is 14.12%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on 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 raised their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

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.