Oxford Financial Group Ltd. acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,488 shares of the company’s stock, valued at approximately $169,000.
A number of other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in Amalgamated Financial by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the company’s stock valued at $25,000 after buying an additional 540 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Amalgamated Financial by 1,240.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 2,680 shares in the last quarter. Amalgamated Bank lifted its stake in Amalgamated Financial by 31.6% during the fourth quarter. Amalgamated Bank now owns 2,322 shares of the company’s stock worth $53,000 after purchasing an additional 557 shares during the last quarter. Citigroup Inc. boosted its holdings in Amalgamated Financial by 174.4% in the first quarter. Citigroup Inc. now owns 3,501 shares of the company’s stock valued at $62,000 after purchasing an additional 2,225 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Amalgamated Financial by 77.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,975 shares of the company’s stock valued at $96,000 after purchasing an additional 2,612 shares during the last quarter. 52.14% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Amalgamated Financial
In related news, EVP Sean Searby sold 3,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $19.35, for a total value of $58,050.00. Following the transaction, the executive vice president now owns 19,405 shares in the company, valued at approximately $375,486.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.
Amalgamated Financial Stock Up 1.2 %
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $70.51 million during the quarter, compared to the consensus estimate of $70.06 million. Amalgamated Financial had a return on equity of 17.92% and a net margin of 24.68%. Equities research analysts forecast that Amalgamated Financial Corp. will post 2.94 earnings per share for the current year.
Amalgamated Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Tuesday, November 7th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.90%. Amalgamated Financial’s payout ratio is 13.70%.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. upped their target price on shares of Amalgamated Financial from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st.
About Amalgamated Financial
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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