KLP Kapitalforvaltning AS Acquires 1,400 Shares of Amalgamated Financial Corp. $AMAL

KLP Kapitalforvaltning AS increased its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 51.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,100 shares of the company’s stock after buying an additional 1,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Amalgamated Financial were worth $128,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in Amalgamated Financial in the 1st quarter worth about $26,000. Signaturefd LLC increased its holdings in Amalgamated Financial by 110.1% in the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock worth $48,000 after buying an additional 798 shares in the last quarter. Virtus Advisers LLC bought a new stake in Amalgamated Financial in the 1st quarter worth about $51,000. US Bancorp DE increased its holdings in Amalgamated Financial by 12.9% in the 1st quarter. US Bancorp DE now owns 3,343 shares of the company’s stock worth $96,000 after buying an additional 381 shares in the last quarter. Finally, State of Wyoming increased its holdings in Amalgamated Financial by 23.3% in the 1st quarter. State of Wyoming now owns 3,717 shares of the company’s stock worth $107,000 after buying an additional 703 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amalgamated Financial

In other news, EVP Sean Searby sold 4,106 shares of Amalgamated Financial stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $29.77, for a total transaction of $122,235.62. Following the transaction, the executive vice president directly owned 12,303 shares of the company’s stock, valued at $366,260.31. The trade was a 25.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.29% of the stock is currently owned by insiders.

Amalgamated Financial Stock Up 0.6%

AMAL stock opened at $26.70 on Wednesday. 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 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock has a market cap of $803.94 million, a P/E ratio of 7.99 and a beta of 0.86. The business’s 50-day moving average price is $28.02 and its 200-day moving average price is $29.24.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Monday, December 19th. The company reported $0.46 earnings per share for the quarter. Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%.The firm had revenue of $49.68 million for the quarter. On average, equities research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMAL shares. Piper Sandler downgraded Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their price target for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Amalgamated Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

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.