Rhumbline Advisers Has $822,000 Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Rhumbline Advisers increased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,996 shares of the company’s stock after buying an additional 393 shares during the quarter. Rhumbline Advisers owned about 0.10% of Amalgamated Financial worth $822,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMAL. CWM LLC grew its position in Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after buying an additional 1,203 shares in the last quarter. Parallel Advisors LLC grew its position in Amalgamated Financial by 50.5% during the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after buying an additional 548 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Amalgamated Financial during the first quarter worth approximately $126,000. SG Americas Securities LLC grew its position in Amalgamated Financial by 82.7% during the second quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock worth $345,000 after buying an additional 5,692 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Amalgamated Financial by 63.0% during the first 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 in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

AMAL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a report on Thursday, June 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Trading Down 1.9 %

Shares of AMAL stock opened at $31.17 on Tuesday. The stock’s fifty day moving average price is $30.92 and its two-hundred day moving average price is $26.83. The company has a market cap of $951.43 million, a PE ratio of 10.19 and a beta of 0.93. Amalgamated Financial Corp. has a fifty-two week low of $15.19 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share 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 for the quarter, compared to the consensus estimate of $77.33 million. During the same quarter last year, the business posted $0.72 EPS. Equities analysts predict that Amalgamated Financial Corp. will post 3.29 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio (DPR) is 15.69%.

Insider Activity at Amalgamated Financial

In related news, major shareholder United Canada Council Workers sold 82,464 shares of the firm’s 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 sale, the insider now owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder United Canada Council Workers sold 82,464 shares of the firm’s 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 of the company’s stock, valued at approximately $13,674,451.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jason Darby sold 4,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $27.02, for a total value of $108,080.00. Following the transaction, the chief financial officer now directly owns 56,470 shares of the company’s stock, valued at $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 in the last 90 days. 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.