Isthmus Partners LLC Sells 609 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Isthmus Partners LLC reduced its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,748 shares of the company’s stock after selling 609 shares during the quarter. Isthmus Partners LLC owned approximately 0.36% of Amalgamated Financial worth $3,673,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Congress Asset Management Co. purchased a new stake in shares of Amalgamated Financial during the fourth quarter valued at $5,339,000. Charles Schwab Investment Management Inc. raised its position in Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after acquiring an additional 111,357 shares during the period. JPMorgan Chase & Co. lifted its stake in Amalgamated Financial by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock valued at $17,806,000 after buying an additional 89,444 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in shares of Amalgamated Financial in the fourth quarter worth approximately $2,778,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth $2,244,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMAL shares. Piper Sandler cut shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Amalgamated Financial Stock Down 1.3 %

AMAL stock opened at $29.49 on Monday. The stock has a market capitalization of $904.43 million, a PE ratio of 8.55 and a beta of 0.93. The company has a fifty day moving average of $34.06 and a 200-day moving average of $33.72. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio (DPR) is 16.23%.

Insider Activity

In other Amalgamated Financial news, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.73, for a total value of $25,835.37. Following the completion of the transaction, the executive vice president now directly owns 10,580 shares in the company, valued at $314,543.40. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder States Regional Joint Western sold 18,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total value of $616,860.00. Following the transaction, the insider now owns 7,167,816 shares of the company’s stock, valued at approximately $245,641,054.32. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,916 shares of company stock valued at $1,035,526 in the last three months. Corporate insiders own 0.90% of the company’s stock.

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.