Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 7.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 478,888 shares of the company’s stock after purchasing an additional 34,109 shares during the period. Geode Capital Management LLC owned about 1.56% of Amalgamated Financial worth $15,026,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Amalgamated Financial by 1.3% during the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock worth $822,000 after acquiring an additional 393 shares during the last quarter. US Bancorp DE grew its holdings in Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Amalgamated Financial by 12.3% in 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 in the last quarter. Panagora Asset Management Inc. grew its position in Amalgamated Financial by 1.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after buying an additional 616 shares in the last quarter. Finally, Quest Partners LLC lifted its position in Amalgamated Financial by 6.9% in 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler lifted their price target on 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 lifted their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Amalgamated Financial Stock Performance

AMAL opened at $33.72 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The stock’s 50 day moving average price is $35.00 and its two-hundred day moving average price is $31.68. The firm has a market capitalization of $1.03 billion, a P/E ratio of 9.92 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data 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 business had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same period in the previous year, the business posted $0.76 earnings per share. On average, equities analysts forecast that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.42%. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Insider Transactions at Amalgamated Financial

In other news, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.59, for a total transaction of $146,360.00. Following the completion of the transaction, the chief financial officer now directly owns 50,208 shares in the company, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder States Regional Joint Western sold 10,000 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total transaction of $352,100.00. Following the transaction, the insider now directly owns 7,185,816 shares in the company, valued at $253,012,581.36. The trade was a 0.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 591,849 shares of company stock valued at $21,099,252. 0.90% of the stock is owned by insiders.

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.