BlackRock Inc. Buys New Holdings in Amalgamated Financial Corp. $AMAL

BlackRock Inc. acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,405,902 shares of the company's stock, valued at approximately $156,331,000. BlackRock Inc. owned about 11.39% of Amalgamated Financial at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings in shares of Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock worth $34,000 after purchasing an additional 391 shares during the period. Arax Advisory Partners increased its position in shares of Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock valued at $41,000 after buying an additional 827 shares during the period. Royal Bank of Canada lifted its stake in Amalgamated Financial by 143.8% in the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock worth $57,000 after purchasing an additional 876 shares in the last quarter. CWM LLC boosted its stake in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $60,000 after buying an additional 549 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock valued at $63,000 after purchasing an additional 1,177 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Amalgamated Financial news, CFO Jason Darby sold 3,000 shares of Amalgamated Financial stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the transaction, the chief financial officer owned 79,343 shares in the company, valued at $3,435,551.90. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Leslie Veluswamy sold 2,500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total value of $108,775.00. Following the completion of the sale, the chief accounting officer owned 14,215 shares of the company's stock, valued at approximately $618,494.65. This trade represents a 14.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,727 shares of company stock valued at $431,077. Corporate insiders own 1.63% of the company's stock.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL opened at $48.69 on Friday. The firm's fifty day moving average is $48.10 and its two-hundred day moving average is $43.25. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $51.59. The company has a market cap of $1.46 billion, a P/E ratio of 12.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. As a group, analysts anticipate that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial's dividend payout ratio (DPR) is 18.13%.

Wall Street Analysts Forecast Growth

AMAL has been the topic of a number of recent research reports. Zacks Research raised Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Weiss Ratings upgraded Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Piper Sandler boosted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Amalgamated Financial presently has a consensus rating of "Moderate Buy" and an average price target of $53.50.

Amalgamated Financial 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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