Charles Schwab Investment Management Inc. Acquires 111,357 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Charles Schwab Investment Management Inc. increased its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 219.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,047 shares of the company’s stock after purchasing an additional 111,357 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.53% of Amalgamated Financial worth $5,083,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. CWM LLC boosted its holdings in Amalgamated Financial by 679.7% during 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. SG Americas Securities LLC boosted its holdings in Amalgamated Financial by 82.7% during the second quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock valued at $345,000 after acquiring an additional 5,692 shares during the period. Bank of New York Mellon Corp boosted its holdings in Amalgamated Financial by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock valued at $4,347,000 after acquiring an additional 4,555 shares during the period. Panagora Asset Management Inc. boosted its holdings in Amalgamated Financial by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after acquiring an additional 616 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Amalgamated Financial by 11.0% during the second quarter. Principal Financial Group Inc. now owns 17,638 shares of the company’s stock valued at $483,000 after acquiring an additional 1,755 shares during the period. 75.93% of the stock is currently owned by institutional investors.

Insider Transactions at Amalgamated Financial

In other news, CFO Jason Darby sold 4,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.59, for a total transaction of $146,360.00. Following the sale, the chief financial officer now directly owns 50,208 shares of the company’s stock, valued at $1,837,110.72. This represents a 7.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder States Regional Joint Western sold 175,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the sale, the insider now directly owns 7,558,575 shares in the company, valued at $281,481,333. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 591,849 shares of company stock valued at $21,099,252. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

AMAL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler upped their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th.

Amalgamated Financial Stock Down 1.8 %

Shares of AMAL opened at $35.01 on Friday. The company has a 50-day simple moving average of $34.71 and a 200-day simple moving average of $30.94. The firm has a market capitalization of $1.07 billion, a P/E ratio of 10.30 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, equities research analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s payout ratio is 14.12%.

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.