Federated Hermes Inc. Grows Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Federated Hermes Inc. raised its position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 74.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,154 shares of the company's stock after buying an additional 48,812 shares during the quarter. Federated Hermes Inc. owned about 0.38% of Amalgamated Financial worth $3,075,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Amalgamated Financial by 2.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company's stock valued at $37,579,000 after buying an additional 59,337 shares during the period. Schroder Investment Management Group raised its stake in shares of Amalgamated Financial by 26.5% in the third quarter. Schroder Investment Management Group now owns 317,107 shares of the company's stock valued at $5,461,000 after buying an additional 66,420 shares during the period. Clean Yield Group raised its stake in shares of Amalgamated Financial by 3.5% in the fourth quarter. Clean Yield Group now owns 145,464 shares of the company's stock valued at $3,919,000 after buying an additional 4,960 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Amalgamated Financial by 30.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 129,127 shares of the company's stock valued at $3,479,000 after purchasing an additional 30,262 shares during the period. Finally, Brown Advisory Inc. raised its stake in shares of Amalgamated Financial by 3.9% during the 3rd quarter. Brown Advisory Inc. now owns 862,875 shares of the company's stock valued at $14,859,000 after purchasing an additional 32,733 shares during the period. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial Stock Performance

Shares of NASDAQ:AMAL traded up $0.71 during midday trading on Friday, reaching $24.60. 145,668 shares of the company traded hands, compared to its average volume of 100,150. Amalgamated Financial Corp. has a 12 month low of $14.05 and a 12 month high of $27.77. The firm's fifty day moving average price is $23.20 and its two-hundred day moving average price is $22.92. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $750.30 million, a price-to-earnings ratio of 8.04 and a beta of 0.94.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, January 25th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. The business had revenue of $105.39 million for the quarter, compared to analysts' expectations of $71.59 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, equities analysts expect that Amalgamated Financial Corp. will post 3.07 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.95%. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, May 7th. Amalgamated Financial's payout ratio is presently 13.07%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMAL shares. JPMorgan Chase & Co. decreased their price objective on Amalgamated Financial from $33.00 to $29.50 and set an "overweight" rating on the stock in a research note on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price objective on Amalgamated Financial from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler reiterated an "overweight" rating and set a $29.00 price objective (up from $28.00) on shares of Amalgamated Financial in a research note on Friday.

About Amalgamated Financial

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.