Nuveen LLC Buys Shares of 118,808 Amalgamated Financial Corp. $AMAL

Key Points

• Nuveen LLC has acquired 118,808 shares of Amalgamated Financial Corp. valued at approximately $3,416,000, representing around 0.39% ownership in the company.
• Amalgamated Financial recently reported an earnings per share (EPS) of $0.88, which fell short of analysts' expectations of $0.90, alongside a revenue of $82.18 million.
• The company has announced a quarterly dividend of $0.14, yielding 1.9%, with a payout ratio of 16.77%.

Nuveen LLC acquired a new position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 118,808 shares of the company's stock, valued at approximately $3,416,000. Nuveen LLC owned 0.39% of Amalgamated Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Amalgamated Financial by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,186 shares of the company's stock worth $341,000 after purchasing an additional 372 shares during the period. US Bancorp DE raised its position in Amalgamated Financial by 12.9% in the 1st quarter. US Bancorp DE now owns 3,343 shares of the company's stock worth $96,000 after purchasing an additional 381 shares during the period. SummerHaven Investment Management LLC raised its position in Amalgamated Financial by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 28,696 shares of the company's stock worth $825,000 after purchasing an additional 411 shares during the period. New York State Common Retirement Fund increased its position in shares of Amalgamated Financial by 7.9% during the first quarter. New York State Common Retirement Fund now owns 6,811 shares of the company's stock worth $196,000 after acquiring an additional 500 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Amalgamated Financial by 2.8% during the first quarter. Principal Financial Group Inc. now owns 19,529 shares of the company's stock worth $561,000 after acquiring an additional 537 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Amalgamated Financial has a consensus rating of "Hold" and a consensus target price of $33.00.

Insiders Place Their Bets

In other Amalgamated Financial news, EVP Sean Searby sold 3,512 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $29.68, for a total value of $104,236.16. Following the completion of the sale, the executive vice president directly owned 8,791 shares in the company, valued at $260,916.88. This trade represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.29% of the stock is currently owned by company insiders.

Amalgamated Financial Stock Down 1.6%

AMAL stock traded down $0.45 during trading on Tuesday, hitting $28.44. 219,563 shares of the company's stock traded hands, compared to its average volume of 151,118. The firm has a market capitalization of $856.33 million, a P/E ratio of 8.51 and a beta of 0.92. The business has a fifty day simple moving average of $30.51 and a two-hundred day simple moving average of $29.95. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 1 year low of $25.03 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $82.18 million for the quarter, compared to analysts' expectations of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The company 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. This represents a $0.56 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Amalgamated Financial's dividend payout ratio (DPR) is 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.