Thrivent Financial for Lutherans Decreases Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Thrivent Financial for Lutherans trimmed its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 13.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,535 shares of the company’s stock after selling 6,241 shares during the quarter. Thrivent Financial for Lutherans owned 0.13% of Amalgamated Financial worth $1,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC increased its position 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. Parallel Advisors LLC increased its position in Amalgamated Financial by 50.5% in the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after buying an additional 548 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Amalgamated Financial in the first quarter worth $126,000. DekaBank Deutsche Girozentrale increased its position in Amalgamated Financial by 12.3% in the second 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. Finally, Acadian Asset Management LLC purchased a new stake in Amalgamated Financial in the second quarter worth $213,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their target price on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research report on Thursday, June 27th.

Insider Activity

In related news, major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the sale, the insider now owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $31.20 on Friday. The stock has a market cap of $952.35 million, a PE ratio of 10.20 and a beta of 0.92. Amalgamated Financial Corp. has a fifty-two week low of $15.19 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a fifty day moving average of $30.76 and a 200-day moving average of $27.27.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $77.33 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same period in the previous year, the business earned $0.72 earnings per share. Equities research analysts anticipate that Amalgamated Financial Corp. will post 3.28 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Amalgamated Financial Company 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.