Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC increased its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 91.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,000 shares of the company’s stock after purchasing an additional 14,300 shares during the quarter. Denali Advisors LLC owned 0.10% of Amalgamated Financial worth $720,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its position in Amalgamated Financial by 2.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock worth $37,579,000 after buying an additional 59,337 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Amalgamated Financial by 26.5% in the third quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after buying an additional 66,420 shares during the last quarter. Clean Yield Group lifted its stake in shares of Amalgamated Financial by 3.5% during the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock valued at $3,919,000 after buying an additional 4,960 shares during the period. Arjuna Capital lifted its stake in shares of Amalgamated Financial by 6.6% during the fourth quarter. Arjuna Capital now owns 167,994 shares of the company’s stock valued at $4,526,000 after buying an additional 10,448 shares during the period. Finally, Truist Financial Corp acquired a new stake in Amalgamated Financial during the fourth quarter worth approximately $427,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insider Activity

In other Amalgamated Financial news, EVP Sam D. Brown sold 8,994 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $25.47, for a total value of $229,077.18. Following the transaction, the executive vice president now owns 45,970 shares in the company, valued at approximately $1,170,855.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Sam D. Brown sold 8,994 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $25.47, for a total value of $229,077.18. Following the completion of the sale, the executive vice president now directly owns 45,970 shares of the company’s stock, valued at $1,170,855.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $27.02, for a total value of $108,080.00. Following the completion of the transaction, the chief financial officer now owns 56,470 shares of the company’s stock, valued at approximately $1,525,819.40. The disclosure for this sale can be found here. Insiders have sold 21,263 shares of company stock worth $545,949 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

AMAL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th.

Amalgamated Financial Price Performance

AMAL opened at $26.27 on Thursday. The company has a 50 day moving average of $25.27 and a two-hundred day moving average of $24.73. Amalgamated Financial Corp. has a 52-week low of $15.19 and a 52-week high of $27.77. 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 $801.76 million, a P/E ratio of 8.58 and a beta of 0.94.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $107.16 million during the quarter, compared to analysts’ expectations of $75.77 million. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.34%. During the same period in the prior year, the company earned $0.74 EPS. On average, analysts expect that Amalgamated Financial Corp. will post 3.1 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a $0.12 dividend. This is an increase 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 annualized dividend and a yield of 1.83%. Amalgamated Financial’s dividend payout ratio (DPR) is 15.69%.

About Amalgamated Financial

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.