4 hours Ago By ABMN Staff
Raymond James Financial Inc. acquired a new stake in Amalgamated Financial Corp. ( NASDAQ:AMAL – Free Report ) in the fourth quarter, HoldingsChannel.
com reports. The fund acquired 67,035 shares of the company’s stock, valued at approximately $2,244,000. A number of other institutional investors have also bought and sold shares of AMAL.
Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Amalgamated Financial in the fourth quarter valued at approximately $13,093,000. Congress Asset Management Co. purchased a new stake in Amalgamated Financial in the 4th quarter valued at $5,339,000.
JPMorgan Chase & Co. increased its stake in shares of Amalgamated Financial by 18.7% in the 3rd quarter.
JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after acquiring an additional 89,444 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new position in shares of Amalgamated Financial during the 4th quarter worth $2,778,000.
Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Amalgamated Financial by 49.7% during the 4th quarter.
Charles Schwab Investment Management Inc. now owns 242,531 shares of the company’s stock valued at $8,118,000 after acquiring an additional 80,484 shares during the last quarter. 75.
93% of the stock is owned by hedge funds and other institutional investors. Amalgamated Financial Stock Down 2.1 % Shares of AMAL opened at $28.
16 on Thursday. The company’s 50-day moving average price is $28.61 and its 200 day moving average price is $32.
71. Amalgamated Financial Corp. has a 12-month low of $24.
02 and a 12-month high of $38.19. 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 firm has a market cap of $864.15 million, a P/E ratio of 8.16 and a beta of 0.
75. Amalgamated Financial declared that its Board of Directors has approved a share buyback program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares.
This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Amalgamated Financial Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th will be paid a $0.14 dividend.
The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.
99%. Amalgamated Financial’s payout ratio is presently 16.62%.
Insider Activity at Amalgamated Financial In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total transaction of $616,860.
00. Following the sale, the insider now directly owns 7,167,816 shares in the company, valued at $245,641,054.32.
This represents a 0.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link .
Also, EVP Sean Searby sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.
00. Following the completion of the transaction, the executive vice president now owns 17,639 shares of the company’s stock, valued at approximately $573,091.11.
This trade represents a 14.54 % decrease in their position. The disclosure for this sale can be found here .
In the last 90 days, insiders have sold 27,253 shares of company stock worth $905,433. 1.29% of the stock is currently owned by company insiders.
Analysts Set New Price Targets A number of brokerages have commented on AMAL. Keefe, Bruyette & Woods reduced their target price on shares of Amalgamated Financial from $41.00 to $39.
00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Piper Sandler lowered shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $38.
00 in a research report on Friday, February 21st. Read Our Latest Report on Amalgamated Financial Amalgamated Financial Company Profile ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding AMAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amalgamated Financial Corp.
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