Globeflex Capital L P Acquires 13,795 Shares of Amalgamated Financial Corp. $AMAL

Globeflex Capital L P raised its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 14.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,947 shares of the company’s stock after purchasing an additional 13,795 shares during the quarter. Globeflex Capital L P’s holdings in Amalgamated Financial were worth $3,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after acquiring an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Amalgamated Financial by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock worth $1,872,000 after purchasing an additional 9,500 shares during the period. Jane Street Group LLC boosted its position in Amalgamated Financial by 373.1% during the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after purchasing an additional 34,923 shares during the period. Legal & General Group Plc increased its stake in shares of Amalgamated Financial by 11.6% in the second quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock worth $670,000 after purchasing an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Amalgamated Financial by 27.9% in the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock worth $1,106,000 after purchasing an additional 7,741 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

AMAL has been the subject of several recent research reports. Zacks Research downgraded shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Piper Sandler lifted their target price on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.00.

Amalgamated Financial Stock Performance

Shares of AMAL opened at $42.37 on Friday. The stock’s 50-day simple moving average is $40.97 and its 200 day simple moving average is $37.33. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.32 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $44.01.

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

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. Amalgamated Financial’s dividend payout ratio is 19.77%.

Insider Transactions at Amalgamated Financial

In related news, EVP Sean Searby sold 748 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $40.02, for a total transaction of $29,934.96. Following the sale, the executive vice president owned 22,307 shares of the company’s stock, valued at approximately $892,726.14. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.63% of the company’s stock.

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.