Amalgamated Financial Corp. $AMAL Stock Acquired by Ethic Inc.

Ethic Inc. lifted its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 217.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,799 shares of the company’s stock after purchasing an additional 21,094 shares during the period. Ethic Inc.’s holdings in Amalgamated Financial were worth $1,465,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AMAL. Farther Finance Advisors LLC raised its position in Amalgamated Financial by 172.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock worth $35,000 after purchasing an additional 461 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Amalgamated Financial by 81.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock worth $68,000 after buying an additional 644 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Amalgamated Financial in the 2nd quarter valued at $30,000. First Trust Advisors LP boosted its position in Amalgamated Financial by 3.2% in the 1st quarter. First Trust Advisors LP now owns 22,293 shares of the company’s stock valued at $867,000 after buying an additional 685 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Amalgamated Financial by 143.8% in the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after buying an additional 876 shares during the period. Institutional investors own 75.93% of the company’s stock.

Insider Buying and Selling at Amalgamated Financial

In other news, major shareholder United Workers sold 92,809 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $50.86, for a total value of $4,720,265.74. Following the transaction, the insider owned 6,747,407 shares of the company’s stock, valued at $343,173,120.02. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maryann Bruce sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $51.36, for a total value of $154,080.00. Following the completion of the transaction, the director owned 14,804 shares in the company, valued at $760,333.44. This represents a 16.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,063,185 shares of company stock worth $100,145,442. 1.63% of the stock is currently owned by insiders.

Amalgamated Financial Trading Down 0.0%

AMAL opened at $50.08 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 12.43 and a beta of 0.76. The firm has a 50 day simple moving average of $48.41 and a 200 day simple moving average of $44.46. Amalgamated Financial Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $52.30.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a net margin of 24.57% and a return on equity of 14.91%. The business had revenue of $99.17 million for the quarter, compared to analyst estimates of $99.26 million. On average, sell-side analysts anticipate that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMAL. Raymond James Financial initiated coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price for the company. Weiss Ratings raised Amalgamated Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, November 4th. Keefe, Bruyette & Woods raised their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler lifted their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. is the bank holding company for Amalgamated Bank, a full-service commercial bank headquartered in New York City. Founded in 1923 by the Amalgamated Clothing Workers of America, the bank has a long history of serving labor organizations and working people. The bank provides commercial and consumer banking services, including deposit accounts, lending, cash management and online banking. Its clients include businesses, nonprofit organizations, labor unions, political and advocacy groups, and individuals, with a particular focus on organizations connected to social and economic causes.