Fmr LLC Increases Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

FMR LLC raised its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 198.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,663 shares of the company's stock after purchasing an additional 23,697 shares during the period. FMR LLC owned 0.12% of Amalgamated Financial worth $1,119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMAL. The Manufacturers Life Insurance Company acquired a new position in Amalgamated Financial in the third quarter valued at $214,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Amalgamated Financial during the 3rd quarter valued at about $388,000. Charles Schwab Investment Management Inc. grew its stake 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Amalgamated Financial by 125.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,089 shares of the company's stock worth $1,289,000 after purchasing an additional 22,865 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Amalgamated Financial in the third quarter valued at approximately $1,612,000. Institutional investors own 75.93% of the company's stock.

Amalgamated Financial Stock Down 1.0 %

Shares of NASDAQ:AMAL traded down $0.36 during midday trading on Tuesday, hitting $35.11. 177,532 shares of the company's stock were exchanged, compared to its average volume of 152,509. 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 50 day moving average price of $34.88 and a 200-day moving average price of $31.16. The company has a market cap of $1.08 billion, a PE ratio of 10.33 and a beta of 0.91. 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 announced its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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 net margin of 24.19% and a return on equity of 16.00%. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, November 5th. Amalgamated Financial's dividend payout ratio (DPR) is currently 14.12%.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 175,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the completion of the transaction, the insider now owns 7,558,575 shares in the company, valued at $281,481,333. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder United Workers sold 55,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $274,723,297.32. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 591,849 shares of company stock worth $21,099,252. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted 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 increased 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.

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.