Bank of Montreal Can Purchases Shares of 13,710 Amalgamated Financial Corp. (NASDAQ:AMAL)

Bank of Montreal Can acquired a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,710 shares of the company’s stock, valued at approximately $378,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC acquired a new position in Amalgamated Financial during the 1st quarter worth $909,000. American Century Companies Inc. boosted its stake in Amalgamated Financial by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after purchasing an additional 63,561 shares during the period. LSV Asset Management acquired a new stake in Amalgamated Financial in the 2nd quarter valued at approximately $1,378,000. Lazard Asset Management LLC increased its position in Amalgamated Financial by 63.0% in the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after buying an additional 6,030 shares during the period. Finally, Denali Advisors LLC lifted its holdings in shares of Amalgamated Financial by 91.1% during the first quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock worth $720,000 after buying an additional 14,300 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL opened at $31.74 on Friday. The firm has a market capitalization of $968.83 million, a price-to-earnings ratio of 10.37 and a beta of 0.92. Amalgamated Financial Corp. has a one year low of $15.19 and a one year high of $33.24. The business has a fifty day simple moving average of $30.74 and a 200 day simple moving average of $27.45. 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 released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $77.33 million. During the same period last year, the firm earned $0.72 EPS. Sell-side analysts expect that Amalgamated Financial Corp. will post 3.28 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. Amalgamated Financial’s payout ratio is presently 15.69%.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the transaction, the insider now directly owns 440,401 shares in the company, valued at $13,674,451.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

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.