Clean Yield Group Sells 10,426 Shares of Amalgamated Financial Corp. $AMAL

Key Points

• Clean Yield Group has reduced its ownership of Amalgamated Financial Corp. (NASDAQ:AMAL) by 9.1% in Q2, now holding 103,894 shares valued at approximately $3.24 million after selling 10,426 shares.
• Piper Sandler has downgraded Amalgamated Financial's stock from a "neutral" to an "underweight" rating, lowering its price target from $34.00 to $27.00.
• Amalgamated Financial recently paid a quarterly dividend of $0.14 per share, reflecting an annualized dividend yield of 2.0% with a payout ratio of 16.77%.

Clean Yield Group lessened its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 9.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,894 shares of the company's stock after selling 10,426 shares during the period. Clean Yield Group owned 0.34% of Amalgamated Financial worth $3,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMAL. Summit Securities Group LLC bought a new position in Amalgamated Financial during the first quarter worth $26,000. Signaturefd LLC raised its stake in Amalgamated Financial by 110.1% during the second quarter. Signaturefd LLC now owns 1,523 shares of the company's stock worth $48,000 after buying an additional 798 shares during the last quarter. Virtus Advisers LLC bought a new position in Amalgamated Financial during the first quarter worth $51,000. US Bancorp DE raised 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 buying an additional 381 shares during the last quarter. Finally, State of Wyoming raised its stake in Amalgamated Financial by 23.3% during the first quarter. State of Wyoming now owns 3,717 shares of the company's stock worth $107,000 after buying an additional 703 shares during the last quarter. Institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler downgraded shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and decreased their price target 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 and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $33.00.

Insider Activity

In other news, EVP Sean Searby sold 4,106 shares of Amalgamated Financial stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $29.77, for a total transaction of $122,235.62. Following the completion of the transaction, the executive vice president directly owned 12,303 shares in the company, valued at $366,260.31. This trade represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is owned by corporate insiders.

Amalgamated Financial Trading Up 1.0%

AMAL opened at $27.69 on Monday. Amalgamated Financial Corp. has a 1-year low of $25.03 and a 1-year high of $38.19. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The company has a market cap of $833.75 million, a P/E ratio of 8.29 and a beta of 0.92. The company has a fifty day moving average price of $28.96 and a two-hundred day moving average price of $29.49.

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

Amalgamated Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Amalgamated Financial's dividend payout ratio (DPR) 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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