Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 219.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,047 shares of the company's stock after purchasing an additional 111,357 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.53% of Amalgamated Financial worth $5,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Amalgamated Financial by 125.5% in the 3rd 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 during the period. Segall Bryant & Hamill LLC acquired a new stake in Amalgamated Financial in the 3rd quarter valued at about $1,612,000. Quest Partners LLC boosted its stake in Amalgamated Financial by 18.7% during the third quarter. Quest Partners LLC now owns 11,905 shares of the company's stock worth $373,000 after buying an additional 1,877 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Amalgamated Financial by 14.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,420 shares of the company's stock valued at $1,456,000 after buying an additional 5,885 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Amalgamated Financial in the 3rd quarter worth $1,781,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 completion of the transaction, the insider now directly owns 355,893 shares of the company's stock, valued at approximately $12,214,247.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Searby sold 8,000 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $34.14, for a total transaction of $273,120.00. Following the completion of the transaction, the executive vice president now owns 15,802 shares of the company's stock, valued at $539,480.28. This represents a 33.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 591,849 shares of company stock valued at $21,099,252. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective 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 increased 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.

Amalgamated Financial Trading Down 0.8 %

Shares of AMAL traded down $0.27 during trading on Friday, reaching $34.74. 50,811 shares of the company traded hands, compared to its average volume of 152,278. The stock has a 50-day simple moving average of $34.71 and a 200-day simple moving average of $30.94. The stock has a market cap of $1.07 billion, a PE ratio of 10.30 and a beta of 0.91. Amalgamated Financial Corp. has a twelve month low of $21.33 and a twelve month high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.08. The company 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 in the prior year, the firm earned $0.76 earnings per share. On average, analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current 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 dividend of $0.12 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. Amalgamated Financial's dividend payout ratio (DPR) is presently 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.