Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Clean Yield Group

Clean Yield Group lessened its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 119,365 shares of the company’s stock after selling 4,754 shares during the period. Amalgamated Financial makes up 1.3% of Clean Yield Group’s portfolio, making the stock its 24th largest position. Clean Yield Group’s holdings in Amalgamated Financial were worth $3,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares during the period. CWM LLC lifted its holdings in shares of Amalgamated Financial by 74.9% in the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after buying an additional 1,034 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $213,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Amalgamated Financial during the third quarter worth $214,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 175,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $37.24, for a total value of $6,517,000.00. Following the transaction, the insider now directly owns 7,558,575 shares of the company’s stock, valued at approximately $281,481,333. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Searby sold 8,000 shares of Amalgamated Financial stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total value of $273,120.00. Following the completion of the transaction, the executive vice president now directly owns 15,802 shares in the company, valued at $539,480.28. This represents a 33.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 591,849 shares of company stock worth $21,099,252. 0.90% of the stock is owned by insiders.

Amalgamated Financial Price Performance

Shares of AMAL stock traded up $0.07 during mid-day trading on Monday, reaching $32.53. The stock had a trading volume of 63,008 shares, compared to its average volume of 128,943. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $34.91 and a 200 day simple moving average of $32.31. The company has a market cap of $997.66 million, a P/E ratio of 9.57 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The company had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. On average, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s payout ratio is currently 14.12%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler boosted their target price on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Amalgamated Financial Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.