Invesco Ltd. Decreases Stock Position in Amalgamated Financial Corp. $AMAL

Key Points

• Invesco Ltd. reduced its stake in Amalgamated Financial Corp. by 15.9% during the first quarter, now holding approximately 0.39% of the company, valued at $3.44 million.
• Amalgamated Financial reported a net margin of 23.60% and earnings per share of $0.88, missing analysts' estimates of $0.90.
• The company recently declared a $0.14 quarterly dividend per share, representing an annualized yield of 1.9%.

Invesco Ltd. trimmed its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,605 shares of the company's stock after selling 22,659 shares during the period. Invesco Ltd. owned 0.39% of Amalgamated Financial worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Amalgamated Financial by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,255,166 shares of the company's stock worth $36,086,000 after acquiring an additional 48,803 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Amalgamated Financial by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company's stock worth $40,803,000 after acquiring an additional 31,647 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Amalgamated Financial by 33.1% in the first quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock worth $10,021,000 after acquiring an additional 86,714 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Amalgamated Financial by 26.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 322,833 shares of the company's stock worth $10,805,000 after acquiring an additional 68,381 shares during the period. Finally, Nia Impact Advisors LLC boosted its holdings in shares of Amalgamated Financial by 0.7% in the fourth quarter. Nia Impact Advisors LLC now owns 228,114 shares of the company's stock worth $7,635,000 after acquiring an additional 1,646 shares during the period. 75.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler lowered Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their price target for the stock 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $33.00.

Amalgamated Financial Price Performance

AMAL stock traded up $0.41 during mid-day trading on Thursday, hitting $29.07. 162,659 shares of the stock were exchanged, compared to its average volume of 151,980. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day moving average price of $30.43 and a 200 day moving average price of $29.89. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The stock has a market capitalization of $875.30 million, a price-to-earnings ratio of 8.70 and a beta of 0.92.

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

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders 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 1.9%. Amalgamated Financial's payout ratio is 16.77%.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 3,512 shares of Amalgamated Financial stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $29.68, for a total transaction of $104,236.16. Following the completion of the sale, the executive vice president owned 8,791 shares of the company's stock, valued at $260,916.88. The trade was a 28.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.29% of the stock is currently owned by company insiders.

Amalgamated Financial 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.