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

State Street Corp boosted its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 704,868 shares of the company's stock after purchasing an additional 33,095 shares during the period. State Street Corp owned about 2.30% of Amalgamated Financial worth $22,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMAL. Bank of New York Mellon Corp grew its stake 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 valued at $4,347,000 after purchasing an additional 4,555 shares during the period. Panagora Asset Management Inc. grew its position in Amalgamated Financial by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company's stock valued at $996,000 after buying an additional 616 shares during the period. Principal Financial Group Inc. increased its holdings in Amalgamated Financial by 11.0% during the second quarter. Principal Financial Group Inc. now owns 17,638 shares of the company's stock valued at $483,000 after buying an additional 1,755 shares during the last quarter. Arjuna Capital raised its position in Amalgamated Financial by 2.5% in the second quarter. Arjuna Capital now owns 176,180 shares of the company's stock worth $4,827,000 after acquiring an additional 4,319 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Amalgamated Financial by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 29,996 shares of the company's stock worth $822,000 after acquiring an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

Insider Buying and Selling at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 10,000 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was 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 owns 7,185,816 shares in the company, valued at $253,012,581.36. The trade was a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Darby sold 4,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.59, for a total transaction of $146,360.00. Following the completion of the transaction, the chief financial officer now owns 50,208 shares in the company, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 591,849 shares of company stock valued at $21,099,252 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL traded up $0.21 during midday trading on Monday, reaching $33.85. The stock had a trading volume of 117,190 shares, compared to its average volume of 153,525. 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 Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The stock has a 50-day moving average of $35.05 and a 200-day moving average of $31.47. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 9.96 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million for the quarter, compared to analysts' expectations 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 firm earned $0.76 earnings per share. As a group, research analysts anticipate that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.42%. Amalgamated Financial's payout ratio is 14.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a 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 research note on Wednesday, December 4th.

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.