Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,152 shares of the company’s stock after selling 13,760 shares during the period. Los Angeles Capital Management LLC owned approximately 0.18% of Amalgamated Financial worth $1,812,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMAL. State Street Corp raised its position in Amalgamated Financial by 4.9% in the third quarter. State Street Corp now owns 704,868 shares of the company’s stock worth $22,112,000 after acquiring an additional 33,095 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 89,444 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amalgamated Financial by 7.7% in the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock valued at $15,026,000 after purchasing an additional 34,109 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 111,357 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new position in Amalgamated Financial during the fourth quarter worth about $5,339,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial 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 completion of the sale, the insider now owns 7,167,816 shares of the company’s stock, valued at $245,641,054.32. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the transaction, the director now owns 18,319 shares in the company, valued at $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,730 shares of company stock valued at $811,052 over the last 90 days. Insiders own 0.90% of the company’s stock.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $32.45 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The business’s fifty day moving average price is $34.43 and its two-hundred day moving average price is $33.61. The stock has a market cap of $995.21 million, a PE ratio of 9.41 and a beta of 0.92. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. Amalgamated Financial’s payout ratio is 16.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMAL. Piper Sandler downgraded shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.