140,724 Shares in Amalgamated Financial Corp. $AMAL Bought by Empowered Funds LLC

Empowered Funds LLC acquired a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 140,724 shares of the company’s stock, valued at approximately $6,459,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Amalgamated Financial during the 2nd quarter worth $156,331,000. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 49,037 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Amalgamated Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after purchasing an additional 54,885 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after purchasing an additional 120,483 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Amalgamated Financial by 63.7% in the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after purchasing an additional 203,440 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, Director Maryann Bruce sold 2,138 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $49.55, for a total transaction of $105,937.90. Following the sale, the director owned 17,804 shares in the company, valued at approximately $882,188.20. This represents a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Darby sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value 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. The trade was a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,727 shares of company stock valued at $431,077. 1.63% of the stock is owned by corporate insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $48.69 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $48.10 and its 200 day moving average price is $43.26. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $51.59. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 12.98 and a beta of 0.79.

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

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio is presently 18.13%.

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.