13,993 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,993 shares of the company’s stock, valued at approximately $469,000.

A number of other institutional investors have also recently added to or reduced their stakes in AMAL. Charles Schwab Investment Management Inc. boosted its position in Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after purchasing an additional 111,357 shares during the period. JPMorgan Chase & Co. boosted its position in Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after purchasing an additional 89,444 shares during the period. Barclays PLC lifted its holdings in Amalgamated Financial by 91.7% in the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after buying an additional 57,008 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in Amalgamated Financial in the 3rd quarter worth $1,781,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Amalgamated Financial in the 3rd quarter worth $1,612,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Maryann Bruce sold 4,403 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now owns 18,319 shares in the company, valued at $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder States Regional Joint Western sold 62,971 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $35.72, for a total transaction of $2,249,324.12. Following the sale, the insider now owns 7,263,423 shares in the company, valued at approximately $259,449,469.56. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,701 shares of company stock worth $4,118,476. 0.90% of the stock is currently owned by corporate insiders.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $36.40 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of 10.55 and a beta of 0.92. The firm’s 50-day simple moving average is $34.57 and its 200-day simple moving average is $33.27. 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 1 year low of $21.33 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Equities analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Tuesday, February 11th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio is 13.91%.

Analyst Ratings Changes

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

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.