First Manhattan CO. LLC. Has $12.18 Million Position in Amalgamated Financial Corp. $AMAL

Key Points

• First Manhattan CO. LLC. decreased its stake in Amalgamated Financial Corp. by 6.2%, owning 423,675 shares worth approximately $12.18 million after selling 28,203 shares in the first quarter.
• Amalgamated Financial reported $0.88 earnings per share for the last quarter, missing the consensus estimate by $0.02, along with revenues of $82.18 million.
• The company recently declared a quarterly dividend of $0.14 per share, reflecting an annualized dividend yield of 1.9% and a payout ratio of 16.77%.

First Manhattan CO. LLC. lessened its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 423,675 shares of the company's stock after selling 28,203 shares during the period. First Manhattan CO. LLC. owned 1.39% of Amalgamated Financial worth $12,181,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AMAL. Wells Fargo & Company MN grew its holdings in shares of Amalgamated Financial by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 10,508 shares of the company's stock worth $352,000 after purchasing an additional 2,289 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Amalgamated Financial during the fourth quarter worth $279,000. Mariner LLC bought a new stake in shares of Amalgamated Financial during the fourth quarter worth $262,000. State of Tennessee Department of Treasury grew its holdings in shares of Amalgamated Financial by 27.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 13,000 shares of the company's stock worth $435,000 after purchasing an additional 2,813 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Amalgamated Financial in the fourth quarter valued at about $619,000. Institutional investors own 75.93% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut 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 report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $33.00.

Amalgamated Financial Trading Down 0.7%

Amalgamated Financial stock traded down $0.20 during mid-day trading on Friday, hitting $28.87. The stock had a trading volume of 124,066 shares, compared to its average volume of 151,481. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The stock has a 50-day simple moving average of $30.37 and a two-hundred day simple moving average of $29.84. 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 stock has a market capitalization of $869.28 million, a PE ratio of 8.64 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its 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). Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. The company had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. As a group, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.56 annualized dividend and a yield of 1.9%. Amalgamated Financial's dividend payout ratio is presently 16.77%.

Insiders Place Their Bets

In other Amalgamated Financial news, EVP Sean Searby sold 4,106 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $29.77, for a total value of $122,235.62. Following the transaction, the executive vice president owned 12,303 shares of the company's stock, valued at approximately $366,260.31. This represents a 25.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.29% of the company's stock.

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.