Amalgamated Financial Corp. (NASDAQ:AMAL) Stock Holdings Increased by Quest Partners LLC

Quest Partners LLC lifted its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 6.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,028 shares of the company’s stock after purchasing an additional 646 shares during the quarter. Quest Partners LLC’s holdings in Amalgamated Financial were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Amalgamated Financial by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock worth $27,096,000 after purchasing an additional 122,722 shares in the last quarter. Arjuna Capital increased its holdings in Amalgamated Financial by 2.5% in the second quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after buying an additional 4,319 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Amalgamated Financial by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after buying an additional 4,555 shares during the last quarter. Clean Yield Group increased its holdings in Amalgamated Financial by 0.9% in the second quarter. Clean Yield Group now owns 144,541 shares of the company’s stock worth $3,960,000 after buying an additional 1,332 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in Amalgamated Financial by 38.8% in the first quarter. Isthmus Partners LLC now owns 136,397 shares of the company’s stock worth $3,274,000 after buying an additional 38,112 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Trading Up 2.9 %

NASDAQ:AMAL opened at $30.87 on Friday. Amalgamated Financial Corp. has a 12 month low of $15.19 and a 12 month high of $33.24. The firm has a market cap of $942.28 million, a price-to-earnings ratio of 10.09 and a beta of 0.93. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $30.42 and its 200-day moving average is $26.43.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The company had revenue of $108.22 million for the quarter, compared to analyst estimates of $77.33 million. During the same quarter last year, the firm posted $0.72 earnings per share. Equities analysts anticipate that Amalgamated Financial Corp. will post 3.29 EPS for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio is 15.69%.

Insider Activity

In related news, major shareholder United Canada Council Workers sold 44,577 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the transaction, the insider now owns 384,980 shares of the company’s stock, valued at $11,537,850.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder United Canada Council Workers sold 44,577 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the transaction, the insider now owns 384,980 shares of the company’s stock, valued at $11,537,850.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $27.02, for a total transaction of $108,080.00. Following the transaction, the chief financial officer now directly owns 56,470 shares in the company, valued at approximately $1,525,819.40. The disclosure for this sale can be found here. Insiders have sold a total of 131,041 shares of company stock valued at $4,004,560 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

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.