Abacus Wealth Partners LLC Purchases New Shares in Amalgamated Financial Corp. $AMAL

Key Points

• Abacus Wealth Partners LLC initiated a new position in Amalgamated Financial, buying 65,566 shares worth about $2.1 million in the fourth quarter. The stake represented roughly 0.22% of the company.
• Institutional ownership remains high, with hedge funds and other investors holding about 75.93% of Amalgamated Financial shares. Several other firms also recently added to or opened positions in the stock.
• Amalgamated Financial reported Q1 EPS of $0.80, missing analyst estimates, while revenue came in roughly in line. The company also declared a quarterly dividend of $0.17 per share, yielding about 1.7%.

Abacus Wealth Partners LLC purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 65,566 shares of the company's stock, valued at approximately $2,100,000. Abacus Wealth Partners LLC owned about 0.22% of Amalgamated Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Amalgamated Financial during the 3rd quarter worth $33,000. Osaic Holdings Inc. raised its position in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock worth $34,000 after buying an additional 391 shares during the last quarter. CWM LLC raised its position in Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company's stock worth $60,000 after buying an additional 549 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Amalgamated Financial by 140.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock worth $63,000 after buying an additional 1,177 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Amalgamated Financial during the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

AMAL has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Piper Sandler upped their price objective on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Finally, Zacks Research downgraded shares of Amalgamated Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $44.00.

Insider Transactions at Amalgamated Financial

In related news, EVP Sean Searby sold 4,948 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $39.42, for a total value of $195,050.16. Following the sale, the executive vice president directly owned 23,055 shares of the company's stock, valued at approximately $908,828.10. This represents a 17.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Tyrone Graham sold 2,285 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $39.91, for a total transaction of $91,194.35. Following the completion of the sale, the executive vice president directly owned 13,443 shares in the company, valued at approximately $536,510.13. The trade was a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,482 shares of company stock valued at $335,658 in the last quarter. Insiders own 1.63% of the company's stock.

Amalgamated Financial Stock Performance

Shares of AMAL opened at $39.68 on Friday. The company has a 50-day simple moving average of $40.01 and a 200-day simple moving average of $35.94. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.19 billion, a PE ratio of 11.53 and a beta of 0.81. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $44.01.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.15). The company had revenue of $91.36 million during the quarter, compared to analysts' expectations of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. Equities research analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, May 5th. Amalgamated Financial's dividend payout ratio (DPR) is currently 19.77%.

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.

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