GSA Capital Partners LLP Invests $1.91 Million in Amalgamated Financial Corp. $AMAL

GSA Capital Partners LLP acquired a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 41,494 shares of the company’s stock, valued at approximately $1,905,000.

A number of other large investors have also added to or reduced their stakes in AMAL. Vanguard Group Inc. raised its holdings in Amalgamated Financial by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after buying an additional 49,037 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Amalgamated Financial by 4.1% during 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. grew its holdings in Amalgamated Financial by 14.5% during 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 position in Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after acquiring an additional 203,440 shares during the period. Finally, First Manhattan CO. LLC. increased its position in 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 during the period. Institutional investors own 75.93% of the company’s stock.

Insider Transactions at Amalgamated Financial

In related news, Director Maryann Bruce sold 2,138 shares of Amalgamated Financial stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $49.55, for a total transaction of $105,937.90. Following the completion of the transaction, the director owned 17,804 shares of the company’s stock, valued at $882,188.20. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Darby sold 3,000 shares of Amalgamated Financial stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total transaction of $129,900.00. Following the transaction, the chief financial officer directly owned 79,343 shares of the company’s stock, valued at $3,435,551.90. This represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,727 shares of company stock worth $431,077 over the last three months. 1.63% of the stock is owned by company insiders.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $51.06 on Monday. The business’s 50 day simple moving average is $47.03 and its 200 day simple moving average is $42.61. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The stock has a market capitalization of $1.53 billion, a PE ratio of 13.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. As a group, research analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. Amalgamated Financial’s dividend payout ratio is 18.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMAL. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods increased their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler raised their target price on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.50.

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.