Amalgamated Financial Corp. (NASDAQ:AMAL) Stake Lowered by Arjuna Capital

Arjuna Capital reduced its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,634 shares of the company's stock after selling 14,705 shares during the period. Amalgamated Financial accounts for 1.2% of Arjuna Capital's investment portfolio, making the stock its 21st biggest holding. Arjuna Capital owned 0.48% of Amalgamated Financial worth $4,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Amalgamated Financial during the 4th quarter valued at $41,000. KLP Kapitalforvaltning AS purchased a new position in shares of Amalgamated Financial during the 4th quarter valued at $90,000. US Bancorp DE grew its holdings in shares of Amalgamated Financial by 28.1% during the 4th quarter. US Bancorp DE now owns 2,962 shares of the company's stock valued at $99,000 after acquiring an additional 650 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Amalgamated Financial by 4,136.8% during the 1st quarter. GAMMA Investing LLC now owns 4,830 shares of the company's stock valued at $139,000 after acquiring an additional 4,716 shares in the last quarter. Finally, Midwest Professional Planners LTD. acquired a new stake in shares of Amalgamated Financial in the 4th quarter valued at $210,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a research note on Friday, April 25th.

Amalgamated Financial Stock Down 2.2%

AMAL stock opened at $32.62 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.09. Amalgamated Financial Corp. has a 1 year low of $25.03 and a 1 year high of $38.19. The company has a fifty day simple moving average of $30.88 and a 200 day simple moving average of $31.18. The firm has a market cap of $997.85 million, a PE ratio of 9.68 and a beta of 0.85.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. Amalgamated Financial had a net margin of 23.99% and a return on equity of 15.68%. The business had revenue of $79.69 million during the quarter, compared to analyst estimates of $74.78 million. During the same quarter in the previous year, the business earned $0.89 EPS. Sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is 16.62%.

Amalgamated Financial Company 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.

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