1,150 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Purchased by R Squared Ltd

R Squared Ltd purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,150 shares of the company’s stock, valued at approximately $38,000.

Several other large investors have also modified their holdings of the business. State Street Corp grew its position in shares of Amalgamated Financial by 4.9% in the third quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after purchasing an additional 33,095 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Amalgamated Financial by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after acquiring an additional 89,444 shares during the last quarter. Geode Capital Management LLC boosted its position in Amalgamated Financial by 7.7% during the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock worth $15,026,000 after acquiring an additional 34,109 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after acquiring an additional 111,357 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Amalgamated Financial by 5.3% during the third quarter. Empowered Funds LLC now owns 124,522 shares of the company’s stock worth $3,906,000 after acquiring an additional 6,298 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total value of $6,517,000.00. Following the completion of the transaction, the insider now directly owns 7,558,575 shares of the company’s stock, valued at approximately $281,481,333. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder United Workers sold 31,844 shares of Amalgamated Financial stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the completion of the transaction, the insider now directly owns 7,512,731 shares of the company’s stock, valued at $268,730,387.87. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 396,865 shares of company stock valued at $14,547,758 in the last quarter. Company insiders own 0.90% of the company’s stock.

Amalgamated Financial Stock Performance

Amalgamated Financial stock opened at $34.94 on Monday. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s fifty day moving average price is $34.70 and its 200 day moving average price is $33.09.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. On average, research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.14 per share. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.56 annualized dividend and a yield of 1.60%. Amalgamated Financial’s payout ratio is 13.91%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMAL. Piper Sandler increased their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.