Avalon Trust Co bought a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 47,995 shares of the company's stock, valued at approximately $2,203,000. Avalon Trust Co owned approximately 0.16% of Amalgamated Financial at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company's stock valued at $45,943,000 after acquiring an additional 49,037 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Amalgamated Financial by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company's stock worth $38,205,000 after purchasing an additional 54,885 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Amalgamated Financial by 14.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company's stock worth $30,552,000 after purchasing an additional 120,483 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Amalgamated Financial by 63.7% during the third quarter. Millennium Management LLC now owns 522,598 shares of the company's stock worth $14,189,000 after buying an additional 203,440 shares in the last quarter. Finally, First Manhattan CO. LLC. raised its position in shares of Amalgamated Financial by 2.3% in the fourth quarter. First Manhattan CO. LLC. now owns 407,025 shares of the company's stock valued at $13,037,000 after buying an additional 9,340 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.
Amalgamated Financial Stock Performance
NASDAQ:AMAL opened at $51.06 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 13.62 and a beta of 0.79. The firm's 50 day moving average is $47.03 and its two-hundred day moving average is $42.58. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.59. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $96.10 million during the quarter, compared to analysts' expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Analysts expect that Amalgamated Financial Corp. will post 4.06 EPS for the current year.
Amalgamated Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 4th. Amalgamated Financial's dividend payout ratio (DPR) is 18.13%.
Analyst Upgrades and Downgrades
AMAL has been the subject of several recent analyst reports. Weiss Ratings raised shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Piper Sandler lifted their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Zacks Research upgraded Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Amalgamated Financial presently has a consensus rating of "Moderate Buy" and an average price target of $53.50.
Check Out Our Latest Analysis on Amalgamated Financial
Insider Transactions at Amalgamated Financial
In other news, Director Maryann Bruce sold 2,138 shares of Amalgamated Financial stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.55, for a total value of $105,937.90. Following the transaction, the director directly owned 17,804 shares of the company's stock, valued at $882,188.20. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Leslie Veluswamy sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $43.51, for a total transaction of $108,775.00. Following the sale, the chief accounting officer directly owned 14,215 shares of the company's stock, valued at approximately $618,494.65. This trade represents a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,727 shares of company stock worth $431,077 in the last three months. 1.63% of the stock is currently owned by company insiders.
Amalgamated Financial Company Profile
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Free Report)
Amalgamated Financial Corp. NASDAQ: AMAL is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.
In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.
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