Amalgamated Financial Corp. $AMAL Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 17.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,245 shares of the company’s stock after selling 2,452 shares during the period. Intech Investment Management LLC’s holdings in Amalgamated Financial were worth $351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harrington Investments INC boosted its position in shares of Amalgamated Financial by 0.4% in the 2nd quarter. Harrington Investments INC now owns 80,510 shares of the company’s stock valued at $2,512,000 after purchasing an additional 350 shares during the period. US Bancorp DE lifted its stake in Amalgamated Financial by 12.9% in the first quarter. US Bancorp DE now owns 3,343 shares of the company’s stock valued at $96,000 after buying an additional 381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after acquiring an additional 468 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Amalgamated Financial by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 29,222 shares of the company’s stock valued at $912,000 after acquiring an additional 526 shares during the period. Finally, Natural Investments LLC grew its position in shares of Amalgamated Financial by 3.2% during the second quarter. Natural Investments LLC now owns 21,147 shares of the company’s stock worth $659,000 after acquiring an additional 652 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Julie Kelly sold 6,697 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $27.34, for a total value of $183,095.98. Following the completion of the sale, the director directly owned 16,763 shares of the company’s stock, valued at $458,300.42. This trade represents a 28.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edgar Romney sold 6,697 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.34, for a total value of $183,095.98. Following the transaction, the director directly owned 16,763 shares in the company, valued at $458,300.42. This represents a 28.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,343 shares of company stock worth $610,858. Company insiders own 1.29% of the company’s stock.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $29.35 on Monday. 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 $878.74 million, a price-to-earnings ratio of 8.84 and a beta of 0.84. The firm’s fifty day moving average price is $27.60 and its 200 day moving average price is $29.26. Amalgamated Financial Corp. has a 1-year low of $25.03 and a 1-year high of $37.26.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results 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 14.75%. The company had revenue of $49.68 million during 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, November 5th. Amalgamated Financial’s payout ratio is currently 16.87%.

Analyst Upgrades and Downgrades

AMAL has been the subject of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amalgamated Financial in a research report on Tuesday, November 25th. Piper Sandler raised shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and upped their target price for the company from $27.00 to $28.00 in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $33.50.

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.