Connor Clark & Lunn Investment Management Ltd. Increases Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)

Connor Clark & Lunn Investment Management Ltd. grew its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 125.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,089 shares of the company’s stock after purchasing an additional 22,865 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amalgamated Financial were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in Amalgamated Financial by 17.4% in the 2nd 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 stake in shares of Amalgamated Financial in the 1st quarter worth $909,000. LSV Asset Management purchased a new position in shares of Amalgamated Financial in the second quarter worth $1,378,000. Deerfield Management Company L.P. Series C bought a new position in shares of Amalgamated Financial during the second quarter valued at $1,219,000. Finally, Lazard Asset Management LLC boosted its position in shares of Amalgamated Financial by 63.0% during 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 last quarter. Institutional investors own 75.93% of the company’s stock.

Insider Transactions at Amalgamated Financial

In other news, major shareholder States Regional Joint Western sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $35.21, for a total transaction of $352,100.00. Following the completion of the sale, the insider now owns 7,185,816 shares of the company’s stock, valued at $253,012,581.36. The trade was a 0.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder United Workers sold 31,844 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.77, for a total value of $1,139,059.88. Following the completion of the transaction, the insider now directly owns 7,512,731 shares in the company, valued at approximately $268,730,387.87. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 718,890 shares of company stock worth $24,995,731 in the last ninety days. Insiders own 0.90% of the company’s stock.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $36.52 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 10.71 and a beta of 0.91. The business has a 50-day simple moving average of $33.52 and a two-hundred day simple moving average of $30.07. Amalgamated Financial Corp. has a fifty-two week low of $20.39 and a fifty-two week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. During the same period in the previous year, the company earned $0.76 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $0.12 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

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.