Zurcher Kantonalbank Zurich Cantonalbank Has $170,000 Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 35.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,310 shares of the company’s stock after purchasing an additional 1,665 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Amalgamated Financial were worth $170,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Amalgamated Financial during the 3rd quarter worth about $137,000. Principal Financial Group Inc. bought a new stake in Amalgamated Financial during the third quarter worth about $200,000. Alps Advisors Inc. acquired a new position in Amalgamated Financial during the third quarter valued at approximately $335,000. Denali Advisors LLC bought a new position in Amalgamated Financial in the fourth quarter valued at approximately $423,000. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Amalgamated Financial by 27.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 31,131 shares of the company’s stock worth $536,000 after purchasing an additional 6,713 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL opened at $25.12 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $766.16 million, a P/E ratio of 8.21 and a beta of 0.91. Amalgamated Financial Corp. has a 12 month low of $14.05 and a 12 month high of $27.77. The stock has a 50 day moving average of $23.37 and a 200-day moving average of $23.37.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $107.16 million during the quarter, compared to analysts’ expectations of $75.77 million. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.81%. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.13 EPS for the current year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.91%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. Amalgamated Financial’s dividend payout ratio is 13.07%.

Insider Buying and Selling at Amalgamated Financial

In other news, EVP Sam D. Brown sold 8,994 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $25.47, for a total transaction of $229,077.18. Following the completion of the sale, the executive vice president now owns 45,970 shares in the company, valued at $1,170,855.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th. Keefe, Bruyette & Woods cut their price target on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a report on Thursday, April 4th.

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.