Tidal Investments LLC purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,798 shares of the company's stock, valued at approximately $496,000. Tidal Investments LLC owned 0.05% of Amalgamated Financial as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock valued at $5,083,000 after acquiring an additional 111,357 shares during the period. American Century Companies Inc. lifted its holdings in Amalgamated Financial by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company's stock worth $11,748,000 after purchasing an additional 63,561 shares in the last quarter. Barclays PLC boosted its stake in Amalgamated Financial by 91.7% in the 3rd quarter. Barclays PLC now owns 119,165 shares of the company's stock worth $3,739,000 after purchasing an additional 57,008 shares during the period. Seizert Capital Partners LLC purchased a new position in Amalgamated Financial during the 3rd quarter valued at about $1,781,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Amalgamated Financial during the 3rd quarter worth approximately $1,612,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.
AMAL opened at $33.64 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.03 billion, a P/E ratio of 9.89 and a beta of 0.91. The stock has a 50-day moving average price of $35.05 and a 200-day moving average price of $31.41. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million for the quarter, compared to analysts' expectations of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same period last year, the business earned $0.76 earnings per share. Equities analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.43%. Amalgamated Financial's payout ratio is 14.12%.
A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods boosted their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.
Check Out Our Latest Research Report on AMAL
In other Amalgamated Financial news, major shareholder United Workers sold 31,844 shares of the stock in a transaction on 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 sale, the insider now owns 7,512,731 shares of the company's stock, valued at $268,730,387.87. This represents a 0.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jason Darby sold 4,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.59, for a total transaction of $146,360.00. Following the completion of the transaction, the chief financial officer now owns 50,208 shares in the company, valued at $1,837,110.72. The trade was a 7.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 591,849 shares of company stock valued at $21,099,252. 0.90% of the stock is currently owned by insiders.
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.
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