Nuveen Asset Management LLC lifted its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Get Rating) by 11.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 420,774 shares of the company's stock after buying an additional 44,369 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.37% of Amalgamated Financial worth $9,488,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Amalgamated Financial by 96.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the company's stock valued at $25,000 after buying an additional 540 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Amalgamated Financial in the 2nd quarter worth $87,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Amalgamated Financial in the 2nd quarter worth $99,000. Lazard Asset Management LLC lifted its stake in Amalgamated Financial by 59.0% in the 2nd quarter. Lazard Asset Management LLC now owns 5,059 shares of the company's stock worth $100,000 after purchasing an additional 1,878 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Amalgamated Financial in the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 48.99% of the company's stock.
Get Amalgamated Financial alerts:Insider Buying and Selling
In other Amalgamated Financial news, insider Financial Corp. Amalgamated sold 45,155 shares of the business's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $22.01, for a total transaction of $993,861.55. Following the completion of the transaction, the insider now owns 7,945,195 shares in the company, valued at $174,873,741.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sean Searby sold 2,096 shares of the firm's stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $23.46, for a total value of $49,172.16. Following the transaction, the executive vice president now owns 21,614 shares of the company's stock, valued at approximately $507,064.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Financial Corp. Amalgamated sold 45,155 shares of Amalgamated Financial stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $22.01, for a total transaction of $993,861.55. Following the sale, the insider now owns 7,945,195 shares of the company's stock, valued at approximately $174,873,741.95. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
AMAL has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Amalgamated Financial from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 20th. Keefe, Bruyette & Woods decreased their price target on shares of Amalgamated Financial from $32.00 to $29.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 31st.
Amalgamated Financial Stock Performance
Amalgamated Financial stock opened at $21.00 on Friday. The company's 50-day moving average price is $23.17 and its 200-day moving average price is $23.56. Amalgamated Financial Corp. has a twelve month low of $16.82 and a twelve month high of $27.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.31. The company has a market cap of $644.07 million, a PE ratio of 8.02 and a beta of 0.80.
Amalgamated Financial (NASDAQ:AMAL – Get Rating) last posted its earnings results on Thursday, January 26th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.10. Amalgamated Financial had a net margin of 28.85% and a return on equity of 16.72%. The firm had revenue of $71.57 million for the quarter, compared to the consensus estimate of $73.11 million. On average, equities research analysts forecast that Amalgamated Financial Corp. will post 3.1 EPS for the current fiscal year.
Amalgamated Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, February 20th. Stockholders of record on Monday, February 6th were issued a $0.10 dividend. The ex-dividend date was Friday, February 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.90%. Amalgamated Financial's dividend payout ratio (DPR) is presently 15.27%.
Amalgamated Financial Profile
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Amalgamated Financial Corp. operates as a holding company for Amalgamated Bank. It offers commercial and retail banking, investment management, and trust custody segments. The company was founded in 1923 and is headquartered in New York, NY.
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