Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 11.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 184,206 shares of the company’s stock after selling 23,434 shares during the period. Franklin Resources Inc.’s holdings in Amalgamated Financial were worth $6,187,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Rhumbline Advisers grew its position in Amalgamated Financial by 1.3% during the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after acquiring an additional 393 shares during the period. US Bancorp DE grew its holdings in shares of 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 purchasing an additional 512 shares during the period. DekaBank Deutsche Girozentrale increased its position in Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after purchasing an additional 528 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Amalgamated Financial by 1.7% in the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after buying an additional 616 shares during the period. Finally, Quest Partners LLC raised its holdings in Amalgamated Financial by 6.9% in the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after buying an additional 646 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amalgamated Financial

In other news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $34.32, for a total value of $1,917,630.00. Following the sale, the insider now owns 355,893 shares in the company, valued at approximately $12,214,247.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 175,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total value of $6,517,000.00. Following the sale, the insider now owns 7,558,575 shares in the company, valued at $281,481,333. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 591,849 shares of company stock valued at $21,099,252. Insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Up 1.2 %

NASDAQ AMAL opened at $33.64 on Monday. The stock has a market cap of $1.03 billion, a P/E ratio of 9.89 and a beta of 0.91. The company’s fifty day simple moving average is $35.05 and its 200-day simple moving average is $31.41. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same quarter in the previous year, the business posted $0.76 EPS. Equities research analysts predict 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 was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is 14.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMAL shares. Keefe, Bruyette & Woods increased their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price target on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 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.