Vanguard Group Inc. Boosts Stock Holdings in Amalgamated Financial Corp. $AMAL

Key Points

• Vanguard Group increased its stake in Amalgamated Financial by 3.5% in the fourth quarter, bringing its holdings to 1.43 million shares worth about $45.9 million and making it a 4.79% owner.
• Amalgamated Financial reported Q1 earnings of $0.80 per share, missing the $0.95 consensus estimate, while revenue of $91.36 million was roughly in line with expectations.
• The company announced a quarterly dividend of $0.17 per share, implying an annualized payout of $0.68 and a dividend yield of 1.7%.

Vanguard Group Inc. raised its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,434,372 shares of the company's stock after purchasing an additional 49,037 shares during the period. Vanguard Group Inc. owned 4.79% of Amalgamated Financial worth $45,943,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in Amalgamated Financial during the 3rd quarter valued at about $816,000. American Century Companies Inc. increased its holdings in shares of Amalgamated Financial by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 589,033 shares of the company's stock valued at $15,992,000 after acquiring an additional 36,851 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Amalgamated Financial by 13.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 158,163 shares of the company's stock valued at $4,294,000 after acquiring an additional 18,142 shares during the period. Harrington Investments INC increased its holdings in shares of Amalgamated Financial by 1.3% in the 4th quarter. Harrington Investments INC now owns 81,560 shares of the company's stock valued at $2,612,000 after acquiring an additional 1,050 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Amalgamated Financial in the 3rd quarter valued at $348,000. Hedge funds and other institutional investors own 75.93% of the company's stock.

Amalgamated Financial Trading Down 1.8%

Shares of NASDAQ:AMAL opened at $39.68 on Friday. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $44.01. The business's fifty day simple moving average is $40.01 and its 200-day simple moving average is $35.94. The company has a market capitalization of $1.19 billion, a PE ratio of 11.53 and a beta of 0.81. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.15). The company had revenue of $91.36 million during the quarter, compared to analysts' expectations of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. Amalgamated Financial's dividend payout ratio (DPR) is presently 19.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Amalgamated Financial from $41.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Weiss Ratings upgraded Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. Finally, Zacks Research downgraded Amalgamated Financial from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $44.00.

Insiders Place Their Bets

In other news, EVP Tyrone Graham sold 2,285 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $39.91, for a total value of $91,194.35. Following the completion of the sale, the executive vice president owned 13,443 shares of the company's stock, valued at $536,510.13. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean Searby sold 748 shares of the firm's stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $40.02, for a total value of $29,934.96. Following the completion of the sale, the executive vice president directly owned 22,307 shares of the company's stock, valued at $892,726.14. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,482 shares of company stock valued at $335,658 in the last three months. Insiders own 1.63% of the company's stock.

About Amalgamated Financial

Amalgamated Financial Corp. NASDAQ: AMAL is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.

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