Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 402.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,682 shares of the company's stock after acquiring an additional 69,416 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.29% of Amalgamated Financial worth $2,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Amalgamated Financial by 35.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company's stock worth $170,000 after acquiring an additional 1,665 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Amalgamated Financial by 20.2% in the fourth quarter. New York State Common Retirement Fund now owns 9,914 shares of the company's stock valued at $267,000 after purchasing an additional 1,667 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Amalgamated Financial by 29.6% during the 4th quarter. SG Americas Securities LLC now owns 10,290 shares of the company's stock worth $277,000 after buying an additional 2,353 shares during the period. Clean Yield Group grew its stake in Amalgamated Financial by 3.5% in the 4th 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 last quarter. Finally, Arjuna Capital raised its holdings in Amalgamated Financial by 4.2% in the 3rd quarter. Arjuna Capital now owns 157,546 shares of the company's stock valued at $2,713,000 after acquiring an additional 6,343 shares during the period. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Price Performance

NASDAQ AMAL traded down $0.28 during trading on Tuesday, hitting $25.12. 86,940 shares of the company's stock were exchanged, compared to its average volume of 144,335. The stock's 50 day moving average price is $23.33 and its two-hundred day moving average price is $23.30. Amalgamated Financial Corp. has a fifty-two week low of $14.05 and a fifty-two week high of $27.77. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.52. The company has a market cap of $766.16 million, a PE ratio of 8.30 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.11. The firm had revenue of $107.16 million for the quarter, compared to analysts' expectations of $75.77 million. Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. During the same period in the prior year, the business earned $0.74 EPS. Research analysts expect that Amalgamated Financial Corp. will post 3.13 EPS for the current year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.12 dividend. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, May 7th. Amalgamated Financial's payout ratio is 13.07%.

Insider Activity

In related news, EVP Sam D. Brown sold 8,994 shares of the business's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $25.47, for a total value of $229,077.18. Following the completion of the sale, the executive vice president now directly owns 45,970 shares of the company's stock, valued at approximately $1,170,855.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Amalgamated Financial from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 5th. Piper Sandler reaffirmed an "overweight" rating and set a $29.00 price objective (up previously from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Amalgamated Financial from $33.00 to $29.50 and set an "overweight" rating on the stock in a report on Thursday, April 4th.

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.