Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Bought by Barclays PLC

Barclays PLC grew its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 91.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,165 shares of the company’s stock after purchasing an additional 57,008 shares during the period. Barclays PLC owned approximately 0.39% of Amalgamated Financial worth $3,739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. US Bancorp DE raised its position in Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares during the last quarter. CWM LLC raised its holdings in Amalgamated Financial by 74.9% during the third quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after purchasing an additional 1,034 shares in the last quarter. DekaBank Deutsche Girozentrale lifted 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 valued at $126,000 after purchasing an additional 528 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Amalgamated Financial in the 3rd quarter valued at approximately $214,000. Finally, Quantbot Technologies LP increased its position in Amalgamated Financial by 9,898.7% during the 3rd quarter. Quantbot Technologies LP now owns 7,599 shares of the company’s stock worth $238,000 after purchasing an additional 7,523 shares during the period. 75.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the firm’s stock in a transaction on 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 owns 355,893 shares of the company’s stock, valued at approximately $12,214,247.76. This trade represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the sale, the chief financial officer now owns 50,208 shares in the company, valued at $1,837,110.72. This represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 591,849 shares of company stock valued at $21,099,252 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMAL. Piper Sandler lifted their price target 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 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 note on Wednesday, December 4th.

Amalgamated Financial Stock Performance

AMAL opened at $33.64 on Monday. The stock’s 50 day simple moving average is $35.05 and its 200 day simple moving average is $31.41. The stock has a market cap of $1.03 billion, a P/E ratio of 9.89 and a beta of 0.91. Amalgamated Financial Corp. has a 1-year low of $21.33 and a 1-year high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results 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 business had revenue of $111.76 million during 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 quarter last year, the business posted $0.76 earnings per share. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s payout ratio is currently 14.12%.

About Amalgamated Financial

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.