Federated Hermes Inc. Raises Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)

Federated Hermes Inc. grew its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 74.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,154 shares of the company’s stock after purchasing an additional 48,812 shares during the quarter. Federated Hermes Inc.’s holdings in Amalgamated Financial were worth $3,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Amalgamated Financial by 35.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock valued at $170,000 after acquiring an additional 1,665 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Amalgamated Financial by 29.6% in the fourth quarter. SG Americas Securities LLC now owns 10,290 shares of the company’s stock valued at $277,000 after acquiring an additional 2,353 shares in the last quarter. Clean Yield Group raised its holdings in shares of Amalgamated Financial by 3.5% in the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock valued at $3,919,000 after acquiring an additional 4,960 shares in the last quarter. Arjuna Capital raised its holdings in shares of Amalgamated Financial by 4.2% in the third quarter. Arjuna Capital now owns 157,546 shares of the company’s stock valued at $2,713,000 after acquiring an additional 6,343 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Amalgamated Financial by 27.5% in the third quarter. Campbell & CO Investment Adviser LLC now owns 31,131 shares of the company’s stock valued at $536,000 after acquiring an additional 6,713 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $24.60 on Friday. Amalgamated Financial Corp. has a fifty-two week low of $14.05 and a fifty-two week high of $27.77. The firm has a market capitalization of $750.30 million, a price-to-earnings ratio of 8.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $23.20 and its 200-day simple moving average is $22.88.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. The business had revenue of $105.39 million for the quarter, compared to analysts’ expectations of $71.59 million. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.07 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.12 per share. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.95%. Amalgamated Financial’s payout ratio is presently 13.07%.

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.