Principal Financial Group Inc. Acquires 537 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Principal Financial Group Inc. grew its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,529 shares of the company’s stock after acquiring an additional 537 shares during the period. Principal Financial Group Inc. owned about 0.06% of Amalgamated Financial worth $561,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. KBC Group NV raised its stake in shares of Amalgamated Financial by 5.6% during the first quarter. KBC Group NV now owns 140,573 shares of the company’s stock valued at $4,041,000 after acquiring an additional 7,414 shares during the last quarter. Figure 8 Investment Strategies LLC raised its stake in shares of Amalgamated Financial by 2.8% during the first quarter. Figure 8 Investment Strategies LLC now owns 85,323 shares of the company’s stock valued at $2,453,000 after acquiring an additional 2,317 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Amalgamated Financial by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 28,696 shares of the company’s stock valued at $825,000 after acquiring an additional 411 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Amalgamated Financial by 16.2% during the first quarter. SG Americas Securities LLC now owns 24,832 shares of the company’s stock worth $714,000 after buying an additional 3,453 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Amalgamated Financial by 4,136.8% during the first quarter. GAMMA Investing LLC now owns 4,830 shares of the company’s stock worth $139,000 after buying an additional 4,716 shares during the period. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Trading Up 0.3%

AMAL opened at $32.99 on Monday. Amalgamated Financial Corp. has a twelve month low of $25.03 and a twelve month high of $38.19. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $31.19 and a 200-day moving average of $31.14. The stock has a market cap of $1.01 billion, a PE ratio of 9.79 and a beta of 0.85.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. The company had revenue of $79.69 million during the quarter, compared to analysts’ expectations of $74.78 million. Amalgamated Financial had a net margin of 23.99% and a return on equity of 15.68%. During the same period in the prior year, the company posted $0.89 earnings per share. On average, sell-side analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, May 6th. Amalgamated Financial’s payout ratio is 16.62%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, April 25th.

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.