Vanguard Group Inc. Raises Stock Holdings 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. lifted its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,255,166 shares of the company's stock after acquiring an additional 48,803 shares during the period. Vanguard Group Inc. owned 4.09% of Amalgamated Financial worth $36,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. US Bancorp DE boosted its stake in shares of Amalgamated Financial by 12.9% in the first quarter. US Bancorp DE now owns 3,343 shares of the company's stock worth $96,000 after acquiring an additional 381 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Amalgamated Financial by 13.8% in the first quarter. Mackenzie Financial Corp now owns 17,406 shares of the company's stock worth $500,000 after acquiring an additional 2,117 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Amalgamated Financial by 1.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 64,923 shares of the company's stock worth $1,867,000 after acquiring an additional 1,068 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Amalgamated Financial by 136.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 16,126 shares of the company's stock worth $464,000 after acquiring an additional 9,304 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of Amalgamated Financial by 33.1% in the first quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock worth $10,021,000 after acquiring an additional 86,714 shares during the period. Institutional investors own 75.93% of the company's stock.

Amalgamated Financial Price Performance

Amalgamated Financial stock traded down $0.22 during midday trading on Monday, reaching $28.89. 161,596 shares of the stock traded hands, compared to its average volume of 157,234. The stock's fifty day moving average is $30.56 and its 200-day moving average is $29.97. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The stock has a market cap of $869.88 million, a P/E ratio of 8.65 and a beta of 0.92. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data 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). Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. The company had revenue of $82.18 million for the quarter, compared to analysts' expectations of $82.52 million. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were given a dividend of $0.14 per share. 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 dividend payout ratio is 16.77%.

Insider Buying and Selling at Amalgamated Financial

In other news, EVP Sean Searby sold 3,512 shares of the 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 sale, the executive vice president directly owned 8,791 shares in the company, valued at approximately $260,916.88. This represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.29% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered Amalgamated Financial from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $34.00 to $27.00 in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amalgamated Financial 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.