Connor Clark & Lunn Investment Management Ltd. Grows Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Connor Clark & Lunn Investment Management Ltd. increased its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 125.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,089 shares of the company’s stock after buying an additional 22,865 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Amalgamated Financial worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after acquiring an additional 1,203 shares during the last quarter. US Bancorp DE lifted its holdings 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 buying an additional 512 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after buying an additional 528 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Amalgamated Financial during the second quarter valued at approximately $213,000. Finally, Quest Partners LLC raised its holdings in shares of Amalgamated Financial by 6.9% during the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after acquiring an additional 646 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Amalgamated Financial news, major shareholder United Workers sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the completion of the transaction, the insider now owns 7,379,084 shares of the company’s stock, valued at approximately $274,723,297.32. This trade represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the transaction, the insider now owns 7,558,575 shares of the company’s stock, valued at $281,481,333. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 718,890 shares of company stock worth $24,995,731 in the last quarter. 0.90% of the stock is owned by company insiders.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $36.52 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $33.52 and its 200 day simple moving average is $30.07. The stock has a market cap of $1.12 billion, a P/E ratio of 10.71 and a beta of 0.91. Amalgamated Financial Corp. has a twelve month low of $20.39 and a twelve month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, research analysts predict that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio 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.