Cornercap Investment Counsel Inc. Sells 10,905 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Cornercap Investment Counsel Inc. lessened its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,708 shares of the company’s stock after selling 10,905 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Amalgamated Financial were worth $336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GSA Capital Partners LLP grew its position in Amalgamated Financial by 53.0% in the 3rd quarter. GSA Capital Partners LLP now owns 23,448 shares of the company’s stock worth $736,000 after purchasing an additional 8,122 shares during the last quarter. US Bancorp DE grew its position in Amalgamated Financial by 28.4% in 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 last quarter. Ballentine Partners LLC acquired a new stake in Amalgamated Financial in the 3rd quarter worth $453,000. Assenagon Asset Management S.A. acquired a new stake in Amalgamated Financial in the 3rd quarter worth $1,440,000. Finally, Creative Planning grew its position in Amalgamated Financial by 24.8% in the 3rd quarter. Creative Planning now owns 14,156 shares of the company’s stock worth $444,000 after purchasing an additional 2,812 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were 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 in the company, valued at $13,674,451.05. The trade was a 15.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. This trade represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 625,919 shares of company stock worth $21,688,307. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock opened at $35.56 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day simple moving average is $32.88 and its 200-day simple moving average is $29.63. Amalgamated Financial Corp. has a twelve month low of $20.39 and a twelve month high of $38.19. The firm has a market cap of $1.09 billion, a P/E ratio of 10.46 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share 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 business had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. During the same period in the previous year, the business earned $0.76 EPS. As a group, research analysts expect that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders 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 annualized dividend and a dividend yield of 1.35%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Amalgamated Financial 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.