Amalgamated Financial Corp. $AMAL Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its stake in Amalgamated Financial by 22.3% in the fourth quarter, selling 35,234 shares and leaving it with 122,929 shares worth about $3.94 million.
• Analyst sentiment is mixed: Zacks downgraded the stock to “strong sell,” Weiss Ratings upgraded it, and Piper Sandler raised its price target to $44 while keeping a neutral rating. MarketBeat’s average view is “Hold” with a $44 price target.
• Recent results were softer than expected, with Q1 EPS of $0.80 missing consensus estimates of $0.95, even though revenue came in roughly in line at $91.36 million. The company also paid a quarterly dividend of $0.17 per share, implying a 1.6% annualized yield.

Thrivent Financial for Lutherans decreased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,929 shares of the company's stock after selling 35,234 shares during the quarter. Thrivent Financial for Lutherans owned about 0.41% of Amalgamated Financial worth $3,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Amalgamated Financial by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company's stock valued at $45,943,000 after acquiring an additional 49,037 shares in the last quarter. Versor Investments LP acquired a new position in shares of Amalgamated Financial during the 4th quarter valued at $935,000. AlphaQuest LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter valued at $816,000. American Century Companies Inc. lifted its holdings in shares of Amalgamated Financial by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 589,033 shares of the company's stock valued at $15,992,000 after acquiring an additional 36,851 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Amalgamated Financial during the 4th quarter valued at $659,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMAL shares. Zacks Research lowered shares of Amalgamated Financial from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. Finally, Piper Sandler boosted their price objective on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Amalgamated Financial currently has an average rating of "Hold" and an average price target of $44.00.

Insider Buying and Selling

In related news, EVP Sean Searby sold 4,948 shares of Amalgamated Financial stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $39.42, for a total value of $195,050.16. Following the completion of the transaction, the executive vice president directly owned 23,055 shares in the company, valued at approximately $908,828.10. This trade represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,197 shares of company stock valued at $244,464 in the last three months. 1.63% of the stock is currently owned by company insiders.

Amalgamated Financial Stock Down 0.2%

NASDAQ:AMAL opened at $41.29 on Friday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 12.00 and a beta of 0.81. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $44.01. The stock has a 50-day simple moving average of $40.30 and a 200 day simple moving average of $36.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64.

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

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial's dividend payout ratio (DPR) is 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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