Globeflex Capital L P Invests $4.75 Million in Amalgamated Financial Corp. $AMAL

Key Points

• Globeflex Capital initiated a $4.75 million position in Amalgamated Financial, purchasing 103,401 shares, or approximately 0.35% of the company. Institutional investors and hedge funds collectively own 75.93% of AMAL.
• Analyst sentiment is moderately bullish: Amalgamated Financial has a consensus rating of “Moderate Buy” and an average price target of $53.50, above its recent $48.76 share price.
• The company exceeded quarterly expectations with $1.10 in EPS and $96.1 million in revenue, while maintaining a quarterly dividend of $0.17 per share, equivalent to a 1.4% yield.

Globeflex Capital L P bought a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 103,401 shares of the company's stock, valued at approximately $4,746,000. Globeflex Capital L P owned approximately 0.35% of Amalgamated Financial as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMAL. Vanguard Group Inc. grew its stake in 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 buying an additional 49,037 shares during the last quarter. Versor Investments LP bought a new position in shares of Amalgamated Financial in the fourth quarter valued at approximately $935,000. Avalon Trust Co bought a new position in shares of Amalgamated Financial in the second quarter valued at approximately $2,203,000. Abacus Wealth Partners LLC acquired a new position in shares of Amalgamated Financial in the 4th quarter worth approximately $2,100,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Amalgamated Financial in the 2nd quarter worth approximately $1,905,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMAL. Piper Sandler raised their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Monday, July 27th. 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 note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Amalgamated Financial has an average rating of "Moderate Buy" and a consensus price target of $53.50.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $48.76 on Monday. The firm has a fifty day moving average of $47.61 and a two-hundred day moving average of $42.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.00 and a beta of 0.79. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $51.59.

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

Amalgamated Financial Dividend Announcement

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

Insider Buying and Selling

In related news, Director Maryann Bruce sold 2,138 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.55, for a total transaction of $105,937.90. Following the completion of the transaction, the director owned 17,804 shares in the company, valued at approximately $882,188.20. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Darby sold 3,000 shares of the stock in a transaction on Thursday, June 11th. The stock was 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 owned 79,343 shares in the company, valued at approximately $3,435,551.90. This trade represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,727 shares of company stock valued at $431,077 in the last 90 days. 1.63% of the stock is owned by insiders.

Amalgamated Financial Company 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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