Sun Sep 15 10:46:53 UTC 2024: ## Institutional Investors Show Growing Confidence in Amalgamated Financial Corp.
**New York, NY (MarketBeat News)** – Amalgamated Financial Corp. (NASDAQ: AMAL) continues to attract interest from institutional investors, with several making significant purchases of the company’s stock in recent quarters.
Quest Partners LLC increased its stake in the company by 6.9% during the second quarter, owning 10,028 shares valued at $275,000. Other notable purchases include Dimensional Fund Advisors LP, which increased its holdings by 13.9% in the fourth quarter, and Arjuna Capital, which boosted its stake by 2.5% in the second quarter.
The company’s stock opened at $30.87 on Friday, with a market cap of $942.28 million and a price-to-earnings ratio of 10.09. The company recently declared a quarterly dividend of $0.12 per share, representing an annualized yield of 1.55%.
Analysts remain positive on the company’s prospects, with Keefe, Bruyette & Woods reiterating an “outperform” rating and JPMorgan Chase & Co. upgrading their price target to $32.50.
Despite insider selling activity, with CFO Jason Darby and United Canada Council Workers recently disposing of shares, institutional investors continue to show confidence in the company’s future.
Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank, providing various financial services, including commercial and retail banking, investment management, and trust and custody services.
First Piper 