Creative Planning Takes Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Creative Planning bought a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,344 shares of the company’s stock, valued at approximately $311,000.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its position in shares of Amalgamated Financial by 679.7% in the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after acquiring an additional 1,203 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Amalgamated Financial during the first quarter worth about $126,000. DekaBank Deutsche Girozentrale lifted its position in Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after purchasing an additional 528 shares during the period. Acadian Asset Management LLC bought a new stake in Amalgamated Financial during the second quarter worth about $213,000. Finally, Quest Partners LLC lifted its position in Amalgamated Financial by 6.9% during the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after purchasing an additional 646 shares during the period. Institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 44,577 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Amalgamated Financial Stock Up 0.8 %

Shares of NASDAQ AMAL opened at $34.79 on Friday. The stock has a 50-day moving average price of $31.18 and a two-hundred day moving average price of $27.76. Amalgamated Financial Corp. has a 12 month low of $15.19 and a 12 month high of $34.91. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 11.37 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. The company had revenue of $108.22 million during the quarter, compared to the consensus estimate of $77.33 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, analysts forecast that Amalgamated Financial Corp. will post 3.33 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

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.