Penserra Capital Management LLC purchased a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,454 shares of the company’s stock, valued at approximately $122,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAL. Tower Research Capital LLC TRC grew its position in Amalgamated Financial by 96.4% during 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 period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Amalgamated Financial during the second quarter valued at $87,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Amalgamated Financial during the second quarter valued at $99,000. Lazard Asset Management LLC lifted its holdings in Amalgamated Financial by 59.0% during the second quarter. Lazard Asset Management LLC now owns 5,059 shares of the company’s stock valued at $100,000 after purchasing an additional 1,878 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Amalgamated Financial during the second quarter valued at $126,000. Institutional investors and hedge funds own 48.99% of the company’s stock.
Amalgamated Financial Stock Performance
NASDAQ:AMAL opened at $23.32 on Tuesday. The company’s 50-day moving average price is $23.24 and its 200-day moving average price is $23.63. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.31. The company has a market cap of $715.22 million, a P/E ratio of 8.90 and a beta of 0.81. Amalgamated Financial Corp. has a twelve month low of $16.05 and a twelve month high of $27.33.
Amalgamated Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, February 20th. Stockholders of record on Monday, February 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, February 3rd. Amalgamated Financial’s dividend payout ratio is currently 15.27%.
Wall Street Analyst Weigh In
Several research firms have issued reports on AMAL. Keefe, Bruyette & Woods decreased their price objective on shares of Amalgamated Financial from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, January 31st. Piper Sandler decreased their price objective on shares of Amalgamated Financial from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, December 20th.
Amalgamated Financial Company Profile
Amalgamated Financial Corp. operates as a holding company for Amalgamated Bank. It offers commercial and retail banking, investment management, and trust custody segments. The company was founded in 1923 and is headquartered in New York, NY.
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