Neumeier Poma Investment Counsel LLC Has $6.96 Million Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Key Points

• Neumeier Poma Investment Counsel LLC reduced its holdings in Amalgamated Financial Corp. by 38.1%, now holding approximately 242,155 shares valued at $6.96 million.
• Amalgamated Financial's recent earnings report showed a miss on earnings per share, coming in at $0.88 versus the consensus estimated $0.90.
• The company announced a quarterly dividend of $0.14 per share, with an annualized yield of 2.0%, to be paid on August 21st.

Neumeier Poma Investment Counsel LLC trimmed its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 38.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,155 shares of the company's stock after selling 149,040 shares during the quarter. Neumeier Poma Investment Counsel LLC owned approximately 0.79% of Amalgamated Financial worth $6,962,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in shares of Amalgamated Financial during the fourth quarter valued at about $41,000. KLP Kapitalforvaltning AS acquired a new position in shares of Amalgamated Financial in the fourth quarter worth approximately $90,000. US Bancorp DE lifted its stake in shares of Amalgamated Financial by 12.9% in the first quarter. US Bancorp DE now owns 3,343 shares of the company's stock worth $96,000 after acquiring an additional 381 shares during the period. GAMMA Investing LLC lifted its stake in shares of Amalgamated Financial by 4,136.8% in the first quarter. GAMMA Investing LLC now owns 4,830 shares of the company's stock worth $139,000 after acquiring an additional 4,716 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Amalgamated Financial in the fourth quarter worth approximately $224,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on AMAL. Piper Sandler lowered Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their price objective for the stock from $34.00 to $27.00 in a research note on Tuesday. Keefe, Bruyette & Woods cut their price objective on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th.

Amalgamated Financial Trading Down 0.0%

Shares of AMAL stock opened at $27.53 on Thursday. The company has a market cap of $842.14 million, a P/E ratio of 8.24 and a beta of 0.89. The stock has a 50 day simple moving average of $31.06 and a two-hundred day simple moving average of $30.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.02). The business had revenue of $82.18 million during the quarter, compared to the consensus estimate of $82.52 million. Amalgamated Financial had a return on equity of 15.42% and a net margin of 23.60%. Research analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, August 5th. Amalgamated Financial's payout ratio is presently 16.77%.

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.

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