JPMorgan Chase & Co. Raises Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

JPMorgan Chase & Co. raised its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,609 shares of the company's stock after purchasing an additional 89,444 shares during the quarter. JPMorgan Chase & Co. owned 1.85% of Amalgamated Financial worth $17,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company's stock valued at $73,000 after acquiring an additional 512 shares during the last quarter. CWM LLC increased 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 buying an additional 1,034 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company's stock worth $126,000 after buying an additional 528 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Amalgamated Financial in the second quarter valued at $213,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Amalgamated Financial during the 3rd quarter valued at $214,000. Institutional investors own 75.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMAL. Piper Sandler boosted their price objective on Amalgamated Financial from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th.

Amalgamated Financial Price Performance

AMAL traded down $0.86 during trading on Friday, reaching $32.46. The stock had a trading volume of 219,274 shares, compared to its average volume of 141,529. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The business has a 50-day moving average of $34.92 and a 200-day moving average of $32.17. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19. The stock has a market cap of $995.52 million, a PE ratio of 9.55 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating 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 last year, the firm posted $0.76 EPS. As a group, equities 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 announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial's dividend payout ratio is currently 14.12%.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder United Workers sold 55,000 shares of the stock in a transaction 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 owns 7,379,084 shares of the company's stock, valued at $274,723,297.32. This represents a 0.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder States Regional Joint Western sold 63,004 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $32.81, for a total transaction of $2,067,161.24. Following the completion of the transaction, the insider now owns 423,022 shares in the company, valued at $13,879,351.82. The trade was a 12.96 % 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 90 days. 0.90% of the stock is owned by company insiders.

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.