Empowered Funds LLC Buys New Position in Amalgamated Financial Corp. $AMAL

Key Points

• Empowered Funds LLC acquired 140,724 shares of Amalgamated Financial, worth approximately $6.46 million, giving it a 0.47% stake. Institutional investors collectively own 75.93% of the company.
• Amalgamated Financial exceeded quarterly expectations, reporting $1.10 in earnings per share versus the $1.00 consensus estimate and revenue of $96.1 million versus $92.09 million expected.
• The company maintains a quarterly dividend of $0.17, equivalent to a 1.4% yield, while analysts hold a “Moderate Buy” consensus rating with an average price target of $53.50.

Empowered Funds LLC purchased a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 140,724 shares of the company's stock, valued at approximately $6,459,000. Empowered Funds LLC owned about 0.47% of Amalgamated Financial as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMAL. Vanguard Group Inc. grew its position in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company's stock worth $45,943,000 after acquiring an additional 49,037 shares during the last quarter. Versor Investments LP purchased a new stake in Amalgamated Financial in the 4th quarter valued at $935,000. Avalon Trust Co purchased a new stake in Amalgamated Financial in the 2nd quarter valued at $2,203,000. GSA Capital Partners LLP acquired a new stake in Amalgamated Financial during the 2nd quarter worth $1,905,000. Finally, Abacus Wealth Partners LLC acquired a new stake in Amalgamated Financial during the 4th quarter worth $2,100,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Amalgamated Financial Price Performance

Amalgamated Financial stock opened at $48.69 on Monday. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $51.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The business has a 50 day simple moving average of $48.10 and a 200-day simple moving average of $43.26. The stock has a market capitalization of $1.46 billion, a PE ratio of 12.98 and a beta of 0.79.

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

Amalgamated Financial Dividend Announcement

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

Insider Transactions at Amalgamated Financial

In other news, Director Maryann Bruce sold 2,138 shares of Amalgamated Financial stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $49.55, for a total value of $105,937.90. Following the sale, the director owned 17,804 shares of the company's stock, valued at $882,188.20. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Darby sold 3,000 shares of Amalgamated Financial stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $43.30, for a total transaction of $129,900.00. Following the completion of the sale, the chief financial officer directly owned 79,343 shares in the company, valued at approximately $3,435,551.90. The trade was a 3.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,727 shares of company stock worth $431,077. Company insiders own 1.63% of the company's stock.

Analyst Upgrades and Downgrades

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