Allianz Asset Management GmbH Sells 152,208 Shares of Amalgamated Financial Corp. $AMAL

Allianz Asset Management GmbH reduced its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 60.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,624 shares of the company’s stock after selling 152,208 shares during the quarter. Allianz Asset Management GmbH owned about 0.33% of Amalgamated Financial worth $2,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Amalgamated Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after buying an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Amalgamated Financial by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after purchasing an additional 9,500 shares during the period. Jane Street Group LLC increased its position in Amalgamated Financial by 373.1% during the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after purchasing an additional 34,923 shares during the period. Truist Financial Corp bought a new stake in shares of Amalgamated Financial in the 2nd quarter valued at about $256,000. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Amalgamated Financial by 51.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 4,100 shares of the company’s stock worth $128,000 after purchasing an additional 1,400 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Amalgamated Financial Stock Down 1.5%

Shares of AMAL stock opened at $40.49 on Thursday. Amalgamated Financial Corp. has a twelve month low of $25.03 and a twelve month high of $42.65. The stock has a market cap of $1.21 billion, a P/E ratio of 11.87 and a beta of 0.84. The stock has a 50 day moving average of $34.95 and a 200 day moving average of $30.55. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The business had revenue of $87.91 million for the quarter, compared to analysts’ expectations of $85.37 million. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.80%. As a group, sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, February 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, February 3rd. Amalgamated Financial’s payout ratio is currently 19.94%.

Insider Buying and Selling at Amalgamated Financial

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

Analyst Ratings Changes

AMAL has been the topic of several research reports. Piper Sandler raised shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $27.00 to $28.00 in a report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amalgamated Financial in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Amalgamated Financial presently has a consensus rating of “Hold” and an average target price of $33.50.

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.