Mirae Asset Global Investments Co. Ltd. Takes Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,993 shares of the company's stock, valued at approximately $469,000.

A number of other hedge funds have also recently made changes to their positions in AMAL. USA Financial Formulas purchased a new position in shares of Amalgamated Financial during the 4th quarter valued at $34,000. R Squared Ltd purchased a new position in shares of Amalgamated Financial during the 4th quarter valued at $38,000. US Bancorp DE grew its position in shares of Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company's stock valued at $73,000 after purchasing an additional 512 shares in the last quarter. CWM LLC grew its position in Amalgamated Financial by 74.9% in the third quarter. CWM LLC now owns 2,414 shares of the company's stock worth $76,000 after acquiring an additional 1,034 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Amalgamated Financial in the third quarter worth $214,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMAL has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler upped their target price 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.

Amalgamated Financial Trading Up 1.0 %

Amalgamated Financial stock traded up $0.36 during mid-day trading on Friday, hitting $36.69. The company's stock had a trading volume of 273,653 shares, compared to its average volume of 195,611. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 10.63 and a beta of 0.92. The business has a 50 day moving average price of $34.59 and a 200-day moving average price of $33.34. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.53%. Amalgamated Financial's payout ratio is currently 13.91%.

Insiders Place Their Bets

In other news, major shareholder States Regional Joint Western sold 10,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $35.21, for a total transaction of $352,100.00. Following the completion of the transaction, the insider now directly owns 7,185,816 shares of the company's stock, valued at approximately $253,012,581.36. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the transaction, the director now directly owns 18,319 shares of the company's stock, valued at approximately $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,730 shares of company stock valued at $1,869,152 over the last three months. Insiders own 0.90% of the company's stock.

Amalgamated Financial Company 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.