Los Angeles Capital Management LLC Sells 22,500 Shares of Amalgamated Financial Corp. $AMAL

Los Angeles Capital Management LLC cut its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 47.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,902 shares of the company’s stock after selling 22,500 shares during the period. Los Angeles Capital Management LLC’s holdings in Amalgamated Financial were worth $777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMAL. Allianz Asset Management GmbH boosted its stake in shares of Amalgamated Financial by 33.1% in the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company’s stock valued at $10,021,000 after purchasing an additional 86,714 shares in the last quarter. American Century Companies Inc. increased its position in Amalgamated Financial by 4.6% during the 1st quarter. American Century Companies Inc. now owns 526,141 shares of the company’s stock worth $15,127,000 after purchasing an additional 23,293 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Amalgamated Financial in the 2nd quarter valued at approximately $427,000. Xponance Inc. acquired a new stake in Amalgamated Financial in the first quarter valued at approximately $241,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Amalgamated Financial during the second quarter worth $1,152,000. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMAL. Piper Sandler lowered Amalgamated Financial from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Amalgamated Financial in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $27.87 on Friday. The business has a 50-day moving average price of $27.58 and a two-hundred day moving average price of $29.36. Amalgamated Financial Corp. has a 1-year low of $25.03 and a 1-year high of $37.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The company has a market cap of $834.43 million, a P/E ratio of 8.39 and a beta of 0.88.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Monday, December 19th. The company reported $0.46 earnings per share for the quarter. The company had revenue of $49.68 million during the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.75%. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.0%. Amalgamated Financial’s dividend payout ratio is currently 16.87%.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, Director Julie Kelly sold 6,697 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $27.34, for a total value of $183,095.98. Following the transaction, the director owned 16,763 shares in the company, valued at approximately $458,300.42. This represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sean Searby sold 4,106 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $29.77, for a total value of $122,235.62. Following the completion of the transaction, the executive vice president owned 12,303 shares in the company, valued at approximately $366,260.31. This represents a 25.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,961 shares of company stock worth $837,329 over the last quarter. Company insiders own 1.29% of the company’s stock.

Amalgamated Financial Company 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.