17,329 Shares in Amalgamated Financial Corp. $AMAL Acquired by Nwam LLC

Nwam LLC purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 17,329 shares of the company’s stock, valued at approximately $674,000.

A number of other hedge funds have also recently made changes to their positions in AMAL. Vanguard Group Inc. raised its position in shares of Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after buying an additional 49,037 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Amalgamated Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock worth $38,205,000 after acquiring an additional 54,885 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Amalgamated Financial by 14.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after acquiring an additional 120,483 shares during the last quarter. Millennium Management LLC increased its stake in Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after acquiring an additional 203,440 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in shares of Amalgamated Financial by 2.3% in the 4th quarter. First Manhattan CO. LLC. now owns 407,025 shares of the company’s stock valued at $13,037,000 after acquiring an additional 9,340 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amalgamated Financial

In other news, Director Maryann Bruce sold 2,089 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the sale, the director directly owned 19,942 shares in the company, valued at approximately $825,399.38. The trade was a 9.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Darby sold 3,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $43.30, for a total transaction of $129,900.00. Following the completion of the sale, the chief financial officer directly owned 79,343 shares of the company’s stock, valued at $3,435,551.90. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,589 shares of company stock worth $325,139. 1.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMAL has been the subject of a number of research analyst reports. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Piper Sandler raised their target price on shares of Amalgamated Financial from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Amalgamated Financial Trading Up 2.9%

Shares of AMAL stock opened at $48.30 on Friday. The business has a 50-day moving average price of $43.60 and a two-hundred day moving average price of $40.37. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $48.59. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.44 billion, a P/E ratio of 14.04 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). The firm had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. Equities analysts anticipate that Amalgamated Financial Corp. will post 3.92 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is 19.77%.

Amalgamated Financial 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.