Cwm LLC Grows Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)

Cwm LLC grew its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 74.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,414 shares of the company’s stock after acquiring an additional 1,034 shares during the period. Cwm LLC’s holdings in Amalgamated Financial were worth $76,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMAL. SG Americas Securities LLC lifted its stake in shares of Amalgamated Financial by 25.1% in the 3rd quarter. SG Americas Securities LLC now owns 15,739 shares of the company’s stock valued at $494,000 after purchasing an additional 3,161 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Amalgamated Financial by 49.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 11,680 shares of the company’s stock valued at $320,000 after purchasing an additional 3,880 shares during the period. Creative Planning purchased a new position in Amalgamated Financial during the second quarter valued at $311,000. Algert Global LLC raised its stake in Amalgamated Financial by 3.2% during the second quarter. Algert Global LLC now owns 77,129 shares of the company’s stock valued at $2,113,000 after buying an additional 2,360 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in Amalgamated Financial during the second quarter valued at $1,219,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Stock Up 0.7 %

Amalgamated Financial stock opened at $33.76 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 11.03 and a beta of 0.92. The stock has a fifty day simple moving average of $31.90 and a two-hundred day simple moving average of $28.31. Amalgamated Financial Corp. has a 12 month low of $15.33 and a 12 month high of $35.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.12.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same quarter last year, the company earned $0.76 EPS. Equities analysts predict that Amalgamated Financial Corp. will post 3.33 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s payout ratio is 15.69%.

Insider Buying and Selling

In related news, major shareholder United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the completion of the sale, the insider now owns 384,980 shares of the company’s stock, valued at $11,537,850.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th.

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.