Charles Schwab Investment Management Inc. Purchases 111,357 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Charles Schwab Investment Management Inc. lifted its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 219.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,047 shares of the company’s stock after purchasing an additional 111,357 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Amalgamated Financial were worth $5,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Amalgamated Financial by 125.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,089 shares of the company’s stock worth $1,289,000 after purchasing an additional 22,865 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Amalgamated Financial during the third quarter worth $1,612,000. Quest Partners LLC raised its holdings in shares of Amalgamated Financial by 18.7% during the third quarter. Quest Partners LLC now owns 11,905 shares of the company’s stock worth $373,000 after acquiring an additional 1,877 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Amalgamated Financial by 14.5% during the third quarter. Thrivent Financial for Lutherans now owns 46,420 shares of the company’s stock worth $1,456,000 after acquiring an additional 5,885 shares during the period. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Amalgamated Financial during the third quarter worth $1,781,000. 75.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Amalgamated Financial

In other news, CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the transaction, the chief financial officer now owns 50,208 shares of the company’s stock, valued at $1,837,110.72. This trade represents a 7.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Regional Joint Board Rochester sold 55,875 shares of Amalgamated Financial stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the completion of the transaction, the insider now directly owns 355,893 shares of the company’s stock, valued at approximately $12,214,247.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 591,849 shares of company stock worth $21,099,252. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods raised their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Amalgamated Financial Trading Down 1.8 %

Shares of NASDAQ:AMAL opened at $35.01 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19. The company’s fifty day simple moving average is $34.71 and its 200 day simple moving average is $30.94. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 10.30 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $79.50 million. During the same period in the previous year, the business earned $0.76 EPS. As a group, research analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders 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 annualized dividend and a yield of 1.37%. Amalgamated Financial’s payout ratio is currently 14.12%.

Amalgamated Financial 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.