Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 20.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 54,152 shares of the company’s stock after selling 13,760 shares during the period. Los Angeles Capital Management LLC’s holdings in Amalgamated Financial were worth $1,812,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Congress Asset Management Co. acquired a new position in Amalgamated Financial during the fourth quarter valued at approximately $5,339,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock valued at $5,083,000 after acquiring an additional 111,357 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after purchasing an additional 89,444 shares during the period. Figure 8 Investment Strategies LLC purchased a new stake in Amalgamated Financial during the 4th quarter worth $2,778,000. Finally, Barclays PLC raised its position in Amalgamated Financial by 91.7% in the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after purchasing an additional 57,008 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods increased their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling at Amalgamated Financial

In other news, Director Maryann Bruce sold 4,403 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the completion of the sale, the director now directly owns 18,319 shares in the company, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the sale, the insider now directly owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. This represents a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,730 shares of company stock worth $811,052 in the last ninety days. 0.90% of the stock is owned by insiders.

Amalgamated Financial Stock Up 0.2 %

Shares of NASDAQ AMAL opened at $32.45 on Friday. The firm has a market cap of $995.21 million, a price-to-earnings ratio of 9.41 and a beta of 0.92. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50-day simple moving average is $34.43 and its 200-day simple moving average is $33.61.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.73%. Amalgamated Financial’s dividend payout ratio is currently 16.23%.

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.