Vanguard Group Inc. Grows Stock Position in Amalgamated Financial Corp. $AMAL

Key Points

• Vanguard Group Inc. increased its stake in Amalgamated Financial Corp. by 4.0%, owning 1,255,166 shares valued at approximately $36 million.
• Amalgamated Financial's stock has experienced a one-year low of $25.03 and a high of $38.19, with a current market capitalization of $893.97 million.
• The company declared a quarterly dividend of $0.14, reflecting a 1.9% dividend yield, while maintaining a dividend payout ratio of 16.77%.

Vanguard Group Inc. boosted its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,255,166 shares of the company's stock after buying an additional 48,803 shares during the period. Vanguard Group Inc. owned approximately 4.09% of Amalgamated Financial worth $36,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE increased its stake in Amalgamated Financial by 12.9% during the first quarter. US Bancorp DE now owns 3,343 shares of the company's stock worth $96,000 after purchasing an additional 381 shares during the period. Mackenzie Financial Corp increased its stake in Amalgamated Financial by 13.8% during the first quarter. Mackenzie Financial Corp now owns 17,406 shares of the company's stock worth $500,000 after purchasing an additional 2,117 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Amalgamated Financial by 1.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 64,923 shares of the company's stock worth $1,867,000 after buying an additional 1,068 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Amalgamated Financial by 136.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 16,126 shares of the company's stock worth $464,000 after buying an additional 9,304 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Amalgamated Financial by 33.1% during the first quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock worth $10,021,000 after buying an additional 86,714 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Amalgamated Financial Stock Down 0.8%

AMAL traded down $0.22 on Friday, reaching $28.89. The company's stock had a trading volume of 161,596 shares, compared to its average volume of 161,807. The stock has a 50 day moving average of $30.60 and a two-hundred day moving average of $30.06. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $869.88 million, a price-to-earnings ratio of 8.65 and a beta of 0.89. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.02). The business had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. As a group, analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were paid a $0.14 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. Amalgamated Financial's payout ratio is currently 16.77%.

Insiders Place Their Bets

In other Amalgamated Financial news, EVP Sean Searby sold 3,512 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $29.68, for a total value of $104,236.16. Following the completion of the sale, the executive vice president owned 8,791 shares in the company, valued at approximately $260,916.88. The trade was a 28.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 8,044 shares of company stock valued at $239,256 in the last three months. 1.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Piper Sandler downgraded Amalgamated Financial from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $33.00.

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.