Penn Capital Management Company LLC Buys New Shares in Amalgamated Financial Corp. $AMAL

Key Points

• Penn Capital Management Company LLC has acquired a new stake in Amalgamated Financial Corp., purchasing 11,190 shares valued at approximately $322,000.
• Amalgamated Financial reported a quarterly earnings per share (EPS) of $0.88, missing analysts' estimates of $0.90, with revenue of $82.18 million compared to expected $82.52 million.
• Institutional investors and hedge funds own 75.93% of Amalgamated Financial's stock, indicating strong institutional interest in the company.

Penn Capital Management Company LLC purchased a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,190 shares of the company's stock, valued at approximately $322,000.

A number of other large investors have also recently bought and sold shares of AMAL. Allianz Asset Management GmbH lifted its stake in shares of Amalgamated Financial by 33.1% in the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock valued at $10,021,000 after purchasing an additional 86,714 shares during the period. Mariner LLC bought a new stake in Amalgamated Financial in the fourth quarter worth approximately $262,000. BNP Paribas Financial Markets bought a new stake in Amalgamated Financial in the fourth quarter worth approximately $1,402,000. Bank of America Corp DE lifted its stake in Amalgamated Financial by 36.8% in the fourth quarter. Bank of America Corp DE now owns 76,888 shares of the company's stock valued at $2,573,000 after buying an additional 20,679 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Amalgamated Financial by 16.2% during the 1st quarter. SG Americas Securities LLC now owns 24,832 shares of the company's stock worth $714,000 after buying an additional 3,453 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $30.04 on Friday. The business has a 50-day simple moving average of $30.65 and a 200 day simple moving average of $30.29. Amalgamated Financial Corp. has a one year low of $25.03 and a one year high of $38.19. 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 firm has a market capitalization of $904.50 million, a price-to-earnings ratio of 8.99 and a beta of 0.89.

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

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were given 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 (DPR) is presently 16.77%.

Wall Street Analyst Weigh In

Separately, Piper Sandler downgraded shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. One 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, the company has an average rating of "Hold" and a consensus target price of $33.00.

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.

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