Nuveen LLC Makes New Investment in Amalgamated Financial Corp. $AMAL

Nuveen LLC acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 118,808 shares of the company’s stock, valued at approximately $3,416,000. Nuveen LLC owned about 0.39% of Amalgamated Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter worth about $41,000. US Bancorp DE grew its holdings in shares of Amalgamated Financial by 12.9% during the first quarter. US Bancorp DE now owns 3,343 shares of the company’s stock worth $96,000 after buying an additional 381 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter worth about $224,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $29.66 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The company has a market cap of $893.06 million, a P/E ratio of 8.88 and a beta of 0.89. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $38.19. The company has a 50-day moving average price of $30.64 and a 200 day moving average price of $30.20.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.02). The firm had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Research analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, EVP Sean Searby sold 4,106 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $29.77, for a total value of $122,235.62. Following the completion of the sale, the executive vice president owned 12,303 shares in the company, valued at $366,260.31. This trade represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.29% of the stock is currently owned by insiders.

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.