Bank of Montreal Can bought a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,305 shares of the company’s stock, valued at approximately $329,000. Bank of Montreal Can owned approximately 0.06% of Amalgamated Financial as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Amalgamated Financial by 9.6% in the first quarter. BlackRock Inc. now owns 2,457,133 shares of the company’s stock valued at $43,467,000 after buying an additional 215,663 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Amalgamated Financial by 38.6% in the third quarter. Vanguard Group Inc. now owns 1,024,720 shares of the company’s stock valued at $23,107,000 after buying an additional 285,321 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Amalgamated Financial by 30.6% in the first quarter. Dimensional Fund Advisors LP now owns 761,831 shares of the company’s stock valued at $13,477,000 after buying an additional 178,404 shares in the last quarter. State Street Corp lifted its stake in shares of Amalgamated Financial by 112.1% in the first quarter. State Street Corp now owns 700,952 shares of the company’s stock valued at $12,400,000 after buying an additional 370,526 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Amalgamated Financial by 3.0% in the first quarter. Federated Hermes Inc. now owns 600,325 shares of the company’s stock valued at $10,620,000 after buying an additional 17,526 shares in the last quarter. 52.14% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, EVP Sean Searby sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $19.35, for a total transaction of $58,050.00. Following the completion of the sale, the executive vice president now owns 19,405 shares in the company, valued at $375,486.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.42% of the stock is currently owned by corporate insiders.
Amalgamated Financial Stock Up 1.2 %
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Amalgamated Financial had a net margin of 24.68% and a return on equity of 17.92%. The business had revenue of $70.51 million during the quarter, compared to the consensus estimate of $70.06 million. Research analysts expect that Amalgamated Financial Corp. will post 2.94 earnings per share for the current fiscal year.
Amalgamated Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Tuesday, November 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.90%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 13.70%.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. raised their price objective on shares of Amalgamated Financial from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st.
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.
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