Massachusetts Financial Services Co. MA Has $2.49 Million Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Massachusetts Financial Services Co. MA lifted its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,807 shares of the company’s stock after purchasing an additional 3,047 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.30% of Amalgamated Financial worth $2,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Amalgamated Financial by 13.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock valued at $27,096,000 after purchasing an additional 122,722 shares in the last quarter. American Century Companies Inc. grew its position in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after acquiring an additional 63,561 shares during the last quarter. Arjuna Capital raised its stake in Amalgamated Financial by 2.5% during the second quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after acquiring an additional 4,319 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 acquiring an additional 4,555 shares during the last quarter. Finally, Clean Yield Group boosted its stake in shares of Amalgamated Financial by 0.9% in the 2nd quarter. Clean Yield Group now owns 144,541 shares of the company’s stock valued at $3,960,000 after purchasing an additional 1,332 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Amalgamated Financial Trading Down 3.0 %

NASDAQ AMAL opened at $31.76 on Monday. The firm has a market capitalization of $969.44 million, a PE ratio of 10.38 and a beta of 0.93. The business’s 50-day moving average price is $30.89 and its two-hundred day moving average price is $26.78. 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 Corp. has a 12 month low of $15.19 and a 12 month high of $33.24.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 25th. The company reported $0.85 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 business had revenue of $108.22 million for the quarter, compared to analysts’ expectations of $77.33 million. During the same period in the prior year, the business posted $0.72 earnings per share. On average, analysts expect that Amalgamated Financial Corp. will post 3.29 EPS for the current year.

Amalgamated Financial Announces Dividend

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

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction dated 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 sale, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the completion of the sale, the chief financial officer now directly owns 56,470 shares of the company’s stock, valued at $1,525,819.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. The disclosure for this sale can be found here. Insiders have sold a total of 131,041 shares of company stock worth $4,004,560 over the last quarter. Company insiders own 0.90% of the company’s stock.

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.