Empowered Funds LLC Buys 6,298 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Empowered Funds LLC grew its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,522 shares of the company’s stock after acquiring an additional 6,298 shares during the quarter. Empowered Funds LLC owned 0.41% of Amalgamated Financial worth $3,906,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMAL. GSA Capital Partners LLP lifted its holdings in Amalgamated Financial by 53.0% during the third quarter. GSA Capital Partners LLP now owns 23,448 shares of the company’s stock worth $736,000 after acquiring an additional 8,122 shares in the last quarter. US Bancorp DE lifted its position in Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter worth about $453,000. Assenagon Asset Management S.A. bought a new position in shares of Amalgamated Financial in the 3rd quarter valued at about $1,440,000. Finally, Creative Planning increased its position in shares of Amalgamated Financial by 24.8% in the third quarter. Creative Planning now owns 14,156 shares of the company’s stock valued at $444,000 after acquiring an additional 2,812 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $35.22 on Tuesday. Amalgamated Financial Corp. has a 1-year low of $20.39 and a 1-year 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 stock has a market cap of $1.08 billion, a P/E ratio of 10.36 and a beta of 0.91. The stock has a 50 day simple moving average of $32.98 and a 200 day simple moving average of $29.70.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million for the quarter, compared to the consensus estimate of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same quarter in the prior year, the business posted $0.76 earnings per share. Research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given 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 is currently 14.12%.

Insider Transactions at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 82,464 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $2,560,507.20. Following the transaction, the insider now directly owns 440,401 shares of the company’s stock, valued at $13,674,451.05. The trade was a 15.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder States Regional Joint Western sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.30, for a total transaction of $706,000.00. Following the sale, the insider now directly owns 7,243,423 shares of the company’s stock, valued at approximately $255,692,831.90. This trade represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 708,890 shares of company stock worth $24,643,631. Company insiders own 0.90% of the company’s stock.

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.