Amalgamated Financial Corp. (NASDAQ:AMAL) Stock Position Lowered by EntryPoint Capital LLC

EntryPoint Capital LLC reduced its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,765 shares of the company’s stock after selling 1,842 shares during the quarter. EntryPoint Capital LLC’s holdings in Amalgamated Financial were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMAL. Thrivent Financial for Lutherans raised its position in Amalgamated Financial by 14.5% during the third quarter. Thrivent Financial for Lutherans now owns 46,420 shares of the company’s stock valued at $1,456,000 after buying an additional 5,885 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Amalgamated Financial by 219.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after purchasing an additional 111,357 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Amalgamated Financial during the third quarter worth approximately $388,000. The Manufacturers Life Insurance Company acquired a new position in Amalgamated Financial in the 3rd quarter valued at approximately $214,000. Finally, FMR LLC lifted its position in Amalgamated Financial by 198.0% in the 3rd quarter. FMR LLC now owns 35,663 shares of the company’s stock worth $1,119,000 after buying an additional 23,697 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Insider Activity at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 18,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the transaction, the insider now directly owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Maryann Bruce sold 4,403 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the transaction, the director now directly owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,916 shares of company stock valued at $1,035,526. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Price Performance

NASDAQ AMAL opened at $28.70 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $880.72 million, a PE ratio of 8.32 and a beta of 0.93. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The company has a 50 day moving average price of $32.68 and a two-hundred day moving average price of $33.42.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, equities analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial declared that its board has approved a share repurchase program on Monday, March 10th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Amalgamated Financial Increases Dividend

The business also recently disclosed 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. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.95%. Amalgamated Financial’s dividend payout ratio is currently 16.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Piper Sandler cut shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a report on Friday, February 21st. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

About Amalgamated Financial

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.