New York Life Investment Management LLC Sells 3,171 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

New York Life Investment Management LLC decreased its position in Amalgamated Financial Corp. (NASDAQ:AMALFree Report) by 13.6% in the third quarter, Holdings Channel.com reports. The firm owned 20,127 shares of the company’s stock after selling 3,171 shares during the quarter. New York Life Investment Management LLC’s holdings in Amalgamated Financial were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swiss National Bank boosted its position in shares of Amalgamated Financial by 7.5% in the 1st quarter. Swiss National Bank now owns 33,100 shares of the company’s stock worth $595,000 after purchasing an additional 2,300 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Amalgamated Financial by 15.4% in the first quarter. JPMorgan Chase & Co. now owns 354,255 shares of the company’s stock worth $6,366,000 after acquiring an additional 47,214 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Amalgamated Financial by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 109,877 shares of the company’s stock valued at $1,974,000 after acquiring an additional 4,203 shares in the last quarter. American Century Companies Inc. raised its position in shares of Amalgamated Financial by 28.8% in the 1st quarter. American Century Companies Inc. now owns 65,842 shares of the company’s stock worth $1,183,000 after purchasing an additional 14,740 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Amalgamated Financial by 17.0% in the 1st quarter. US Bancorp DE now owns 10,061 shares of the company’s stock worth $181,000 after purchasing an additional 1,463 shares in the last quarter. Hedge funds and other institutional investors own 52.14% of the company’s stock.

Insider Activity at Amalgamated Financial

In other news, insider Financial Corp. Amalgamated purchased 68,487 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of $21.14 per share, for a total transaction of $1,447,815.18. Following the purchase, the insider now directly owns 8,013,682 shares in the company, valued at approximately $169,409,237.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Finser Mark sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $26.57, for a total value of $106,280.00. Following the transaction, the director now directly owns 18,567 shares of the company’s stock, valued at approximately $493,325.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Financial Corp. Amalgamated purchased 68,487 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were bought at an average cost of $21.14 per share, with a total value of $1,447,815.18. Following the acquisition, the insider now directly owns 8,013,682 shares of the company’s stock, valued at approximately $169,409,237.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 17,192 shares of company stock worth $430,766. 1.42% of the stock is owned by insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $24.78 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $753.16 million, a price-to-earnings ratio of 8.66 and a beta of 0.97. The business has a 50-day simple moving average of $25.65 and a two-hundred day simple moving average of $20.97. Amalgamated Financial Corp. has a fifty-two week low of $14.05 and a fifty-two week high of $27.77.

Amalgamated Financial (NASDAQ:AMALGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Amalgamated Financial had a net margin of 22.71% and a return on equity of 17.02%. The company had revenue of $105.39 million for the quarter, compared to analysts’ expectations of $71.59 million. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, analysts expect that Amalgamated Financial Corp. will post 3.11 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Tuesday, February 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, February 5th. Amalgamated Financial’s payout ratio is currently 13.99%.

Analysts Set New Price Targets

AMAL has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. raised Amalgamated Financial from a “neutral” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research report on Tuesday, December 12th.

Check Out Our Latest Stock Analysis on Amalgamated Financial

Amalgamated Financial 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.

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Institutional Ownership by Quarter for Amalgamated Financial (NASDAQ:AMAL)

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