Empowered Funds LLC Has $3.91 Million Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Empowered Funds LLC lifted its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 5.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,522 shares of the company’s stock after purchasing an additional 6,298 shares during the quarter. Empowered Funds LLC’s holdings in Amalgamated Financial were worth $3,906,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Amalgamated Financial by 17.4% during the second 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 during the last quarter. Tidal Investments LLC acquired a new stake in shares of Amalgamated Financial in the 1st quarter worth about $909,000. LSV Asset Management bought a new position in Amalgamated Financial in the 2nd quarter valued at about $1,378,000. Deerfield Management Company L.P. Series C acquired a new position in Amalgamated Financial during the 2nd quarter valued at about $1,219,000. Finally, Lazard Asset Management LLC increased its holdings in Amalgamated Financial by 63.0% during the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock worth $373,000 after purchasing an additional 6,030 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $35.22 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a 50-day moving average of $32.98 and a 200-day moving average of $29.70. Amalgamated Financial Corp. has a one year low of $20.39 and a one year high of $38.19. The company has a market cap of $1.08 billion, a P/E ratio of 10.36 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating 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 firm had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same quarter last year, the business posted $0.76 EPS. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Insiders Place Their Bets

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total value of $1,335,972.69. Following the sale, the insider now owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. The trade was a 10.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.59, for a total transaction of $146,360.00. Following the completion of the transaction, the chief financial officer now owns 50,208 shares in the company, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 708,890 shares of company stock valued at $24,643,631. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

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.