Thrivent Financial for Lutherans Buys 18,142 Shares of Amalgamated Financial Corp. $AMAL

Thrivent Financial for Lutherans grew its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 13.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 158,163 shares of the company’s stock after acquiring an additional 18,142 shares during the period. Thrivent Financial for Lutherans owned about 0.53% of Amalgamated Financial worth $4,294,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Amalgamated Financial by 20.2% during the second quarter. Geode Capital Management LLC now owns 608,506 shares of the company’s stock valued at $18,988,000 after purchasing an additional 102,166 shares during the last quarter. American Century Companies Inc. raised its position in shares of Amalgamated Financial by 4.9% in the second quarter. American Century Companies Inc. now owns 552,182 shares of the company’s stock valued at $17,228,000 after purchasing an additional 26,041 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Amalgamated Financial during the 2nd quarter valued at approximately $16,974,000. LSV Asset Management boosted its holdings in Amalgamated Financial by 11.4% in the 2nd quarter. LSV Asset Management now owns 321,758 shares of the company’s stock worth $10,039,000 after buying an additional 32,805 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in Amalgamated Financial by 1.1% in the 2nd quarter. Bridgeway Capital Management LLC now owns 286,835 shares of the company’s stock valued at $8,949,000 after buying an additional 3,123 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMAL. Weiss Ratings restated a “hold (c+)” rating on shares of Amalgamated Financial in a research report on Monday, December 29th. Piper Sandler raised 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 report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Amalgamated Financial currently has an average rating of “Hold” and a consensus target price of $33.50.

Insider Buying and Selling

In other Amalgamated Financial news, EVP Sam D. Brown sold 5,151 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $35.50, for a total transaction of $182,860.50. Following the completion of the sale, the executive vice president directly owned 53,232 shares in the company, valued at $1,889,736. The trade was a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.29% of the company’s stock.

Amalgamated Financial Trading Up 2.5%

NASDAQ AMAL opened at $41.25 on Friday. The stock has a 50 day simple moving average of $34.30 and a two-hundred day simple moving average of $30.34. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $41.37. The stock has a market cap of $1.24 billion, a P/E ratio of 12.10 and a beta of 0.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. The business had revenue of $87.91 million during the quarter, compared to analyst estimates of $85.37 million. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.80%. On average, analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, February 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, February 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.94%.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.