VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 10,366 Amalgamated Financial Corp. $AMAL

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,366 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors also recently bought and sold shares of AMAL. KBC Group NV increased its stake in Amalgamated Financial by 5.6% in the 1st quarter. KBC Group NV now owns 140,573 shares of the company’s stock valued at $4,041,000 after buying an additional 7,414 shares during the period. Principal Financial Group Inc. increased its stake in Amalgamated Financial by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 19,529 shares of the company’s stock valued at $561,000 after buying an additional 537 shares during the period. Alps Advisors Inc. increased its stake in Amalgamated Financial by 7.5% in the 1st quarter. Alps Advisors Inc. now owns 12,098 shares of the company’s stock valued at $348,000 after buying an additional 849 shares during the period. Xponance Inc. acquired a new position in Amalgamated Financial in the 1st quarter valued at $241,000. Finally, New York State Common Retirement Fund grew its stake in shares of Amalgamated Financial by 7.9% during the 1st quarter. New York State Common Retirement Fund now owns 6,811 shares of the company’s stock worth $196,000 after purchasing an additional 500 shares during the period. 75.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMAL shares. Piper Sandler cut shares of 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 research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amalgamated Financial in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.00.

Amalgamated Financial Price Performance

Amalgamated Financial stock opened at $28.32 on Friday. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week 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 firm’s 50-day simple moving average is $27.91 and its 200 day simple moving average is $29.27. The firm has a market capitalization of $852.72 million, a PE ratio of 8.53 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Monday, December 19th. The company reported $0.46 EPS for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.97%. The business had revenue of $49.68 million for the quarter. On average, equities research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, November 5th. Amalgamated Financial’s dividend payout ratio is 16.87%.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 4,106 shares of the company’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 transaction, the executive vice president directly owned 12,303 shares in the company, valued at approximately $366,260.31. This represents a 25.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.29% of the company’s stock.

Amalgamated Financial 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.