JPMorgan Chase & Co. Has $17.81 Million Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

JPMorgan Chase & Co. lifted its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 18.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 567,609 shares of the company’s stock after acquiring an additional 89,444 shares during the period. JPMorgan Chase & Co. owned approximately 1.85% of Amalgamated Financial worth $17,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after purchasing an additional 111,357 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Amalgamated Financial by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares in the last quarter. Barclays PLC lifted its position in shares of Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after buying an additional 57,008 shares during the last quarter. Seizert Capital Partners LLC acquired a new stake in Amalgamated Financial in the third quarter valued at about $1,781,000. Finally, Segall Bryant & Hamill LLC bought a new position in Amalgamated Financial in the third quarter valued at about $1,612,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $33.32 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.80 and a beta of 0.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $34.91 and its 200-day moving average price is $32.16. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its 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. 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 the consensus estimate of $79.50 million. During the same period last year, the company earned $0.76 EPS. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMAL. Keefe, Bruyette & Woods raised their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 10,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $253,012,581.36. This represents a 0.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Regional Joint Board Rochester sold 55,875 shares of Amalgamated Financial stock in a transaction on 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 sale, the insider now owns 355,893 shares of the company’s stock, valued at $12,214,247.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 591,849 shares of company stock valued at $21,099,252 over the last ninety days. 0.90% of the stock is owned by company insiders.

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.