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

A number of other hedge funds have also made changes to their positions in AMAL. Vanguard Group Inc. grew its position in 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 raised its stake in Amalgamated Financial by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company's stock valued at $40,803,000 after buying an additional 31,647 shares in the last quarter. American Century Companies Inc. increased its position in shares of Amalgamated Financial by 4.6% during the first quarter. American Century Companies Inc. now owns 526,141 shares of the company's stock worth $15,127,000 after purchasing an additional 23,293 shares in the last quarter. Allianz Asset Management GmbH grew 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 last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in Amalgamated Financial by 26.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 322,833 shares of the company's stock valued at $10,805,000 after purchasing an additional 68,381 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler downgraded Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their price target for the company from $34.00 to $27.00 in a 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $33.00.

Amalgamated Financial Stock Up 0.7%

Shares of AMAL stock traded up $0.20 on Friday, hitting $29.31. The company's stock had a trading volume of 30,044 shares, compared to its average volume of 210,831. The stock has a market capitalization of $882.34 million, a price-to-earnings ratio of 8.77 and a beta of 0.89. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week 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's fifty day moving average price is $30.62 and its 200-day moving average price is $30.16.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted 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). Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%.The company had revenue of $82.18 million for the quarter, compared to the consensus estimate of $82.52 million. Research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Tuesday, August 5th were given 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 dividend yield of 1.9%. Amalgamated Financial's dividend payout ratio is currently 16.77%.

Insiders Place Their Bets

In other Amalgamated Financial news, EVP Sean Searby sold 4,106 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $29.77, for a total value of $122,235.62. Following the completion of the sale, the executive vice president owned 12,303 shares in the company, valued at $366,260.31. This trade represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 8,044 shares of company stock valued at $239,256 over the last ninety days. 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.