Swiss National Bank Has $1.03 Million Position in Amalgamated Financial Corp. $AMAL

Swiss National Bank lifted its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 35,700 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Swiss National Bank owned about 0.12% of Amalgamated Financial worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Allianz Asset Management GmbH increased its holdings in Amalgamated Financial by 33.1% in the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company’s stock valued at $10,021,000 after buying an additional 86,714 shares during the period. Mariner LLC bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at approximately $262,000. BNP Paribas Financial Markets bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at approximately $1,402,000. Bank of America Corp DE grew its holdings in shares of Amalgamated Financial by 36.8% during the 4th quarter. Bank of America Corp DE now owns 76,888 shares of the company’s stock valued at $2,573,000 after purchasing an additional 20,679 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Amalgamated Financial by 16.2% during the 1st quarter. SG Americas Securities LLC now owns 24,832 shares of the company’s stock valued at $714,000 after purchasing an additional 3,453 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $34.00 to $27.00 in a report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.00.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $29.39 on Tuesday. The firm has a market capitalization of $884.93 million, a PE ratio of 8.80 and a beta of 0.89. The firm has a fifty day simple moving average of $30.64 and a two-hundred day simple moving average of $30.21. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.02). The company had revenue of $82.18 million for the quarter, compared to the consensus estimate of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, August 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.77%.

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.