Geode Capital Management LLC Has $18.99 Million Stock Position in Amalgamated Financial Corp. $AMAL

Geode Capital Management LLC lifted its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 608,506 shares of the company’s stock after buying an additional 102,166 shares during the period. Geode Capital Management LLC owned about 2.02% of Amalgamated Financial worth $18,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of Amalgamated Financial by 1,738.5% in the first quarter. Alliancebernstein L.P. now owns 767,438 shares of the company’s stock worth $22,064,000 after acquiring an additional 725,695 shares in the last quarter. Boston Trust Walden Corp acquired a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $16,974,000. Adage Capital Partners GP L.L.C. increased its stake in Amalgamated Financial by 35.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 740,642 shares of the company’s stock worth $21,293,000 after purchasing an additional 192,577 shares in the last quarter. Nuveen LLC acquired a new stake in Amalgamated Financial during the 1st quarter worth approximately $3,416,000. Finally, Trexquant Investment LP lifted its stake in Amalgamated Financial by 121.1% in the first quarter. Trexquant Investment LP now owns 141,070 shares of the company’s stock valued at $4,056,000 after buying an additional 77,254 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMAL. Piper Sandler raised shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $27.00 to $28.00 in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amalgamated Financial in a report on Tuesday, November 25th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Amalgamated Financial has a consensus rating of “Hold” and a consensus target price of $33.50.

Insider Activity at Amalgamated Financial

In related news, Director Julie Kelly sold 6,697 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.34, for a total transaction of $183,095.98. Following the sale, the director owned 16,763 shares in the company, valued at approximately $458,300.42. This represents a 28.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynne P. Fox sold 8,949 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $27.34, for a total value of $244,665.66. Following the completion of the transaction, the director owned 22,276 shares of the company’s stock, valued at approximately $609,025.84. This represents a 28.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,343 shares of company stock valued at $610,858. 1.29% of the stock is owned by insiders.

Amalgamated Financial Price Performance

NASDAQ AMAL opened at $29.35 on Monday. The firm’s 50 day moving average is $27.60 and its 200-day moving average is $29.26. 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 capitalization of $878.74 million, a PE ratio of 8.84 and a beta of 0.84. Amalgamated Financial Corp. has a 12-month low of $25.03 and a 12-month high of $37.26.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results 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 14.75%. The business had revenue of $49.68 million during the quarter. Equities research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.9%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.87%.

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.