Amalgamated Financial Corp. $AMAL Shares Sold by Ethic Inc.

Ethic Inc. lowered its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 35.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,578 shares of the company’s stock after selling 4,106 shares during the quarter. Ethic Inc.’s holdings in Amalgamated Financial were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAL. KBC Group NV raised its holdings in Amalgamated Financial by 5.6% during the first quarter. KBC Group NV now owns 140,573 shares of the company’s stock worth $4,041,000 after purchasing an additional 7,414 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Amalgamated Financial by 2.8% during the first quarter. Principal Financial Group Inc. now owns 19,529 shares of the company’s stock worth $561,000 after purchasing an additional 537 shares in the last quarter. Alps Advisors Inc. raised its holdings in Amalgamated Financial by 7.5% during the first quarter. Alps Advisors Inc. now owns 12,098 shares of the company’s stock worth $348,000 after purchasing an additional 849 shares in the last quarter. Xponance Inc. acquired a new stake in Amalgamated Financial during the first quarter worth approximately $241,000. Finally, New York State Common Retirement Fund raised its holdings in Amalgamated Financial by 7.9% during the first 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 in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

AMAL has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Amalgamated Financial in a report on Thursday. Piper Sandler cut shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $34.00 to $27.00 in a report on Tuesday, August 5th. One research 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, Amalgamated Financial presently has an average rating of “Hold” and an average price target of $33.00.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $27.65 on Friday. The firm’s fifty day moving average price is $27.85 and its 200 day moving average price is $29.30. Amalgamated Financial Corp. has a 1-year low of $25.03 and a 1-year high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $832.54 million, a price-to-earnings ratio of 8.33 and a beta of 0.86.

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 net margin of 22.97% and a return on equity of 14.97%. The firm had revenue of $49.68 million for the quarter. On average, sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

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

Insider Activity

In other news, EVP Sean Searby sold 4,106 shares of Amalgamated Financial stock in a transaction on Monday, August 25th. The stock was sold at an average price of $29.77, for a total transaction of $122,235.62. Following the completion of the transaction, the executive vice president 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 SEC, which is available through this hyperlink. 1.29% of the stock is owned by company 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.