Franklin Resources Inc. Cuts Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Franklin Resources Inc. cut its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 11.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184,206 shares of the company's stock after selling 23,434 shares during the period. Franklin Resources Inc. owned 0.60% of Amalgamated Financial worth $6,187,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAL. Charles Schwab Investment Management Inc. grew its position in shares of Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock valued at $5,083,000 after acquiring an additional 111,357 shares during the period. American Century Companies Inc. grew its holdings in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company's stock valued at $11,748,000 after purchasing an additional 63,561 shares during the period. Barclays PLC increased its position in shares of Amalgamated Financial by 91.7% in the third quarter. Barclays PLC now owns 119,165 shares of the company's stock valued at $3,739,000 after buying an additional 57,008 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter worth approximately $1,781,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Amalgamated Financial during the 3rd quarter valued at approximately $1,612,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMAL shares. Piper Sandler upped 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. Keefe, Bruyette & Woods upped their price target 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.

Insider Transactions at Amalgamated Financial

In other news, EVP Sean Searby sold 8,000 shares of the company'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 transaction, the executive vice president now directly owns 15,802 shares in the company, valued at approximately $539,480.28. This represents a 33.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total value of $352,100.00. Following the transaction, the insider now directly owns 7,185,816 shares in the company, valued at approximately $253,012,581.36. The trade was a 0.14 % decrease in their position. 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 quarter. Company insiders own 0.90% of the company's stock.

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock traded up $0.21 during trading hours on Monday, reaching $33.85. 117,190 shares of the company's stock were exchanged, compared to its average volume of 153,525. The business has a fifty day moving average of $35.05 and a two-hundred day moving average of $31.47. The company has a market capitalization of $1.04 billion, a P/E ratio of 9.96 and a beta of 0.91. 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 Corp. has a 1 year low of $21.33 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating 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 net margin of 24.19% and a return on equity of 16.00%. During the same quarter in the prior year, the firm earned $0.76 EPS. As a group, research analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, November 5th. Amalgamated Financial's payout ratio is currently 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.