Tidal Investments LLC Makes New $496,000 Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Tidal Investments LLC bought a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) during the third quarter, Holdings Channel.com reports. The firm bought 15,798 shares of the company’s stock, valued at approximately $496,000.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its stake in Amalgamated Financial by 198.0% in the third quarter. FMR LLC now owns 35,663 shares of the company’s stock worth $1,119,000 after purchasing an additional 23,697 shares during the period. American Century Companies Inc. grew its position in shares of Amalgamated Financial by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares during the period. LSV Asset Management bought a new position in shares of Amalgamated Financial in the 2nd quarter worth about $1,378,000. State Street Corp lifted its position in Amalgamated Financial by 4.9% during the 3rd quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after acquiring an additional 33,095 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in Amalgamated Financial during the second quarter worth about $1,219,000. Institutional investors own 75.93% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder States Regional Joint Western sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $35.21, for a total value of $352,100.00. Following the completion of the transaction, the insider now directly owns 7,185,816 shares of the company’s stock, valued at approximately $253,012,581.36. This trade represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder United Workers sold 55,000 shares of the company’s 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 sale, the insider now directly owns 7,379,084 shares in the company, valued at approximately $274,723,297.32. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 591,849 shares of company stock worth $21,099,252. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMAL. Piper Sandler boosted their price target on 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 increased their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Amalgamated Financial Price Performance

Shares of AMAL opened at $33.64 on Monday. Amalgamated Financial Corp. has a twelve month low of $21.33 and a twelve month high of $38.19. The company has a market capitalization of $1.03 billion, a P/E ratio of 9.89 and a beta of 0.91. The firm has a 50 day moving average of $35.05 and a 200 day moving average of $31.41. 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) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. Amalgamated Financial’s dividend payout ratio (DPR) is 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.