Segall Bryant & Hamill LLC Acquires Shares of 51,375 Amalgamated Financial Corp. (NASDAQ:AMAL)

Segall Bryant & Hamill LLC acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 51,375 shares of the company’s stock, valued at approximately $1,612,000. Segall Bryant & Hamill LLC owned about 0.17% of Amalgamated Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC boosted its position in shares of Amalgamated Financial by 63.0% during the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after acquiring an additional 6,030 shares in the last quarter. Virtus Investment Advisers Inc. increased its stake in Amalgamated Financial by 268.8% in the first quarter. Virtus Investment Advisers Inc. now owns 23,600 shares of the company’s stock valued at $566,000 after purchasing an additional 17,200 shares during the last quarter. Tidal Investments LLC acquired a new stake in Amalgamated Financial during the first quarter worth approximately $909,000. Boston Partners purchased a new stake in shares of Amalgamated Financial during the 1st quarter worth approximately $825,000. Finally, CWM LLC boosted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Trading Up 1.4 %

AMAL opened at $36.51 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 52 week low of $20.39 and a 52 week high of $38.19. The business’s 50 day moving average is $33.43 and its two-hundred day moving average is $29.93. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 10.74 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The business had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. During the same period in the previous year, the company posted $0.76 EPS. On average, research analysts predict that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Wall Street Analyst Weigh In

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

Insider Activity at Amalgamated Financial

In other news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the business’s 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 transaction, the insider now directly owns 355,893 shares in the company, valued at $12,214,247.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder United Canada Council Workers sold 82,464 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the sale, the insider now owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. The trade was a 15.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 718,890 shares of company stock worth $24,995,731 in the last quarter. Company insiders own 0.90% of the company’s stock.

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.