Boston Trust Walden Corp Purchases Shares of 544,044 Amalgamated Financial Corp. $AMAL

Key Points

• Boston Trust Walden Corp has acquired a significant stake in Amalgamated Financial Corp., purchasing 544,044 shares valued at approximately $16.97 million, representing 1.78% ownership.
• Recently, multiple institutional investors, including Summit Securities Group and US Bancorp DE, have adjusted their positions in Amalgamated Financial, indicating growing interest from major investors.
• Amalgamated Financial is rated as a "hold" by analysts, with a consensus target price of $33.00, despite some ratings being downgraded to "underweight."

Boston Trust Walden Corp purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 544,044 shares of the company's stock, valued at approximately $16,974,000. Boston Trust Walden Corp owned 1.78% of Amalgamated Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Amalgamated Financial in the 1st quarter valued at approximately $26,000. Signaturefd LLC increased its position in Amalgamated Financial by 110.1% in the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company's stock valued at $48,000 after acquiring an additional 798 shares during the period. Virtus Advisers LLC acquired a new position in Amalgamated Financial in the 1st quarter valued at approximately $51,000. US Bancorp DE increased its position in Amalgamated Financial by 12.9% in the 1st quarter. US Bancorp DE now owns 3,343 shares of the company's stock valued at $96,000 after acquiring an additional 381 shares during the period. Finally, State of Wyoming increased its position in Amalgamated Financial by 23.3% in the 1st quarter. State of Wyoming now owns 3,717 shares of the company's stock valued at $107,000 after acquiring an additional 703 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amalgamated Financial

In related news, EVP Sean Searby sold 4,106 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $29.77, for a total transaction of $122,235.62. Following the transaction, the executive vice president directly owned 12,303 shares of the company's stock, valued at $366,260.31. This represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMAL shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Amalgamated Financial in a research note on Wednesday, October 8th. Piper Sandler lowered shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of "Hold" and a consensus target price of $33.00.

Amalgamated Financial Trading Up 3.1%

NASDAQ:AMAL opened at $27.66 on Wednesday. The firm has a market cap of $832.84 million, a P/E ratio of 8.28 and a beta of 0.86. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $38.19. The firm's fifty day moving average is $28.20 and its 200-day moving average is $29.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its earnings results on Monday, December 19th. The company reported $0.46 earnings per share (EPS) for the quarter. The business had revenue of $49.68 million for the quarter. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Equities analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.56 annualized dividend and a yield of 2.0%. Amalgamated Financial's dividend payout ratio is currently 16.77%.

About Amalgamated Financial

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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