Bank of America Corp DE Purchases 14,621 Shares of Amalgamated Financial Corp. $AMAL

Bank of America Corp DE boosted its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 9.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,680 shares of the company’s stock after buying an additional 14,621 shares during the quarter. Bank of America Corp DE’s holdings in Amalgamated Financial were worth $6,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in Amalgamated Financial by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after acquiring an additional 312 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Amalgamated Financial by 3.4% during the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after acquiring an additional 383 shares during the period. Osaic Holdings Inc. raised its position in shares of Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Amalgamated Financial by 4.6% in 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 in the last quarter. Finally, CWM LLC lifted its stake in shares of Amalgamated Financial by 41.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares during the period. 75.93% of the stock is owned by institutional investors.

Insider Activity

In other Amalgamated Financial news, CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total transaction of $108,775.00. Following the transaction, the chief accounting officer owned 14,215 shares of the company’s stock, valued at $618,494.65. The trade was a 14.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Darby sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $43.30, for a total transaction of $129,900.00. Following the sale, the chief financial officer owned 79,343 shares in the company, valued at $3,435,551.90. The trade was a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,727 shares of company stock valued at $431,077 in the last ninety days. Corporate insiders own 1.63% of the company’s stock.

Amalgamated Financial Stock Up 0.5%

AMAL stock opened at $48.65 on Thursday. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59. The business has a fifty day moving average price of $47.91 and a 200-day moving average price of $43.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The stock has a market capitalization of $1.45 billion, a P/E ratio of 12.97 and a beta of 0.79.

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

Amalgamated Financial Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on AMAL. 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 report on Friday, July 24th. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Piper Sandler increased their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Amalgamated Financial Company 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.