11,344 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Bought by Creative Planning

Creative Planning purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) in the second quarter, Holdings Channel.com reports. The fund purchased 11,344 shares of the company’s stock, valued at approximately $311,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its position in Amalgamated Financial by 679.7% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after buying an additional 1,203 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Amalgamated Financial in the 1st quarter valued at $126,000. Acadian Asset Management LLC purchased a new stake in shares of Amalgamated Financial during the 2nd quarter valued at $213,000. Finally, Quest Partners LLC increased its position in shares of Amalgamated Financial by 6.9% during the 2nd quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after purchasing an additional 646 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Amalgamated Financial Trading Up 0.8 %

Shares of AMAL opened at $34.79 on Friday. The business has a 50-day moving average of $31.18 and a 200 day moving average of $27.76. Amalgamated Financial Corp. has a fifty-two week low of $15.19 and a fifty-two week high of $34.91. The firm has a market cap of $1.06 billion, a P/E ratio of 11.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. The business had revenue of $108.22 million during the quarter, compared to the consensus estimate of $77.33 million. During the same quarter last year, the company earned $0.72 EPS. As a group, research analysts forecast that Amalgamated Financial Corp. will post 3.33 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.48 annualized dividend and a yield of 1.38%. Amalgamated Financial’s dividend payout ratio is currently 15.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMAL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 27th.

Insiders Place Their Bets

In other news, major shareholder United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the completion of the sale, the insider now owns 384,980 shares in the company, valued at approximately $11,537,850.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

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.