Quest Partners LLC Buys 1,877 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Quest Partners LLC increased its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,905 shares of the company’s stock after purchasing an additional 1,877 shares during the period. Quest Partners LLC’s holdings in Amalgamated Financial were worth $373,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after acquiring an additional 63,561 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Amalgamated Financial in the 1st quarter valued at about $909,000. LSV Asset Management acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth approximately $1,378,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Amalgamated Financial during the second quarter worth approximately $1,219,000. Finally, Lazard Asset Management LLC lifted its holdings in Amalgamated Financial by 63.0% in the first quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after buying an additional 6,030 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total value of $6,517,000.00. Following the transaction, the insider now owns 7,558,575 shares of the company’s stock, valued at approximately $281,481,333. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder United Workers sold 55,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the sale, the insider now directly owns 7,379,084 shares of the company’s stock, valued at $274,723,297.32. This represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 718,890 shares of company stock valued at $24,995,731. Company insiders own 0.90% of the company’s stock.

Amalgamated Financial Price Performance

Amalgamated Financial stock opened at $36.51 on Monday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 10.74 and a beta of 0.91. The business has a 50-day moving average of $33.43 and a 200-day moving average of $29.99. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 1 year low of $20.39 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate 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 firm earned $0.76 earnings per share. On average, equities analysts anticipate that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.31%. Amalgamated Financial’s dividend payout ratio is presently 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.