Massachusetts Financial Services Co. MA Lowers Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Massachusetts Financial Services Co. MA trimmed its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,659 shares of the company’s stock after selling 2,148 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.29% of Amalgamated Financial worth $2,781,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of Amalgamated Financial by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock worth $822,000 after buying an additional 393 shares during the period. US Bancorp DE lifted its holdings in shares of Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after buying an additional 528 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Amalgamated Financial by 1.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock worth $996,000 after buying an additional 616 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Amalgamated Financial by 6.9% in the 2nd quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after buying an additional 646 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total transaction of $352,100.00. Following the transaction, the insider now directly owns 7,185,816 shares of the company’s stock, valued at $253,012,581.36. This represents a 0.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder United Canada Council Workers sold 82,464 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the transaction, the insider now directly owns 440,401 shares in the company, valued at $13,674,451.05. This represents a 15.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 718,890 shares of company stock valued at $24,995,731. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Down 0.5 %

AMAL opened at $36.52 on Wednesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 10.74 and a beta of 0.91. 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 12 month low of $20.39 and a 12 month high of $38.19. The stock has a fifty day moving average price of $33.52 and a 200-day moving average price of $30.07.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same period in the previous year, the company posted $0.76 EPS. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, November 5th. Amalgamated Financial’s payout ratio is 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.