Swiss National Bank Reduces Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Swiss National Bank lowered its position in shares of Amalgamated Financial Corp. (NASDAQ:AMALFree Report) by 10.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 33,000 shares of the company’s stock after selling 3,700 shares during the quarter. Swiss National Bank’s holdings in Amalgamated Financial were worth $889,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp bought a new position in Amalgamated Financial in the 4th quarter worth $427,000. Semanteon Capital Management LP bought a new position in Amalgamated Financial in the 4th quarter worth $467,000. Bailard Inc. bought a new position in Amalgamated Financial in the 4th quarter worth $754,000. New York State Common Retirement Fund raised its holdings in Amalgamated Financial by 20.2% in the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Amalgamated Financial by 74.7% in the 4th quarter. Federated Hermes Inc. now owns 114,154 shares of the company’s stock worth $3,075,000 after purchasing an additional 48,812 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL opened at $25.20 on Friday. The firm’s 50-day moving average price is $24.00 and its 200-day moving average price is $24.16. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.23. The company has a market cap of $769.10 million, a PE ratio of 8.24 and a beta of 0.91. Amalgamated Financial Corp. has a 52-week low of $14.06 and a 52-week high of $27.77.

Amalgamated Financial (NASDAQ:AMALGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $107.16 million for the quarter, compared to the consensus estimate of $75.77 million. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.34%. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.13 EPS for the current year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.12 per share. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.90%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Analysts Set New Price Targets

Several brokerages have commented on AMAL. Keefe, Bruyette & Woods decreased their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 5th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company in a research note on Thursday, April 4th.

Read Our Latest Stock Report on AMAL

Insiders Place Their Bets

In other Amalgamated Financial news, insider Edgar Romney, Jr. sold 8,269 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total transaction of $208,792.25. Following the sale, the insider now owns 13,856 shares in the company, valued at approximately $349,864. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Edgar Romney, Jr. sold 8,269 shares of Amalgamated Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total transaction of $208,792.25. Following the sale, the insider now owns 13,856 shares in the company, valued at $349,864. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sam D. Brown sold 8,994 shares of Amalgamated Financial stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $25.47, for a total transaction of $229,077.18. Following the sale, the executive vice president now owns 45,970 shares in the company, valued at approximately $1,170,855.90. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Amalgamated Financial Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amalgamated Financial (NASDAQ:AMAL)

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