Amalgamated Financial Corp. $AMAL Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 42.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,391 shares of the company’s stock after selling 72,108 shares during the period. JPMorgan Chase & Co. owned approximately 0.33% of Amalgamated Financial worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in AMAL. State of Alaska Department of Revenue bought a new stake in shares of Amalgamated Financial in the 3rd quarter worth approximately $33,000. Osaic Holdings Inc. grew its position in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after buying an additional 391 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Amalgamated Financial by 140.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after acquiring an additional 1,177 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Amalgamated Financial in the 3rd quarter worth $77,000. Finally, Parallel Advisors LLC raised its position in shares of Amalgamated Financial by 74.4% during the third quarter. Parallel Advisors LLC now owns 2,905 shares of the company’s stock worth $79,000 after purchasing an additional 1,239 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Tyrone Graham sold 2,285 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $39.91, for a total value of $91,194.35. Following the transaction, the executive vice president owned 13,443 shares in the company, valued at approximately $536,510.13. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sam D. Brown sold 5,151 shares of the stock in a transaction that occurred on 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 owned 53,232 shares of the company’s stock, valued at approximately $1,889,736. The trade was a 8.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,885 shares of company stock valued at $488,584 over the last three months. 1.29% of the stock is owned by corporate insiders.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $39.40 on Monday. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $42.65. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.18 billion, a PE ratio of 11.55 and a beta of 0.82. The business has a fifty day simple moving average of $39.11 and a 200-day simple moving average of $33.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The firm had revenue of $87.91 million for the quarter, compared to analyst estimates of $85.37 million. Amalgamated Financial had a return on equity of 14.60% and a net margin of 23.05%. On average, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, February 3rd. Amalgamated Financial’s payout ratio is currently 19.94%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler assumed coverage on shares of Amalgamated Financial in a research note on Monday, March 16th. They set a “neutral” rating and a $41.00 price objective for the company. Weiss Ratings raised shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.00.

About Amalgamated Financial

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.