USA Financial Formulas Purchases Shares of 1,007 Amalgamated Financial Corp. (NASDAQ:AMAL)

USA Financial Formulas acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,007 shares of the company’s stock, valued at approximately $34,000.

Other large investors have also made changes to their positions in the company. Rhumbline Advisers lifted its position in Amalgamated Financial by 1.3% in the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock worth $822,000 after purchasing an additional 393 shares during the period. US Bancorp DE raised its stake in shares of Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after buying an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares during the period. CWM LLC boosted its position in shares of Amalgamated Financial by 74.9% during the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after acquiring an additional 1,034 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Amalgamated Financial by 16.4% in the second quarter. XTX Topco Ltd now owns 10,269 shares of the company’s stock valued at $281,000 after acquiring an additional 1,450 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMAL. Piper Sandler raised 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 Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Insider Activity

In other Amalgamated Financial news, EVP Sean Searby sold 8,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total transaction of $273,120.00. Following the sale, the executive vice president now owns 15,802 shares of the company’s stock, valued at $539,480.28. This represents a 33.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 175,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $37.24, for a total transaction 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. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 591,849 shares of company stock worth $21,099,252. 0.90% of the stock is owned by corporate insiders.

Amalgamated Financial Trading Up 2.3 %

Shares of AMAL stock opened at $36.10 on Friday. The company has a market capitalization of $1.11 billion, a P/E ratio of 10.62 and a beta of 0.93. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $34.88 and a 200 day moving average price of $32.51.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $111.76 million during 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 quarter in the previous year, the company posted $0.76 earnings per share. Research analysts forecast that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s payout ratio is presently 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.