17,343 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Acquired by Semanteon Capital Management LP

Semanteon Capital Management LP purchased a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,343 shares of the company’s stock, valued at approximately $467,000. Semanteon Capital Management LP owned 0.06% of Amalgamated Financial at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMAL. Redwood Grove Capital LLC bought a new stake in shares of Amalgamated Financial in the 3rd quarter worth approximately $3,972,000. Schroder Investment Management Group raised its holdings in Amalgamated Financial by 26.5% during the 3rd quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after acquiring an additional 66,420 shares during the period. Assenagon Asset Management S.A. raised its holdings in Amalgamated Financial by 178.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 98,865 shares of the company’s stock valued at $1,702,000 after acquiring an additional 63,385 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Amalgamated Financial by 2.8% during the 3rd 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 acquiring an additional 59,337 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Amalgamated Financial by 74.7% during the 4th quarter. Federated Hermes Inc. now owns 114,154 shares of the company’s stock valued at $3,075,000 after acquiring an additional 48,812 shares during the period. Institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered 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. Piper Sandler reissued an “overweight” rating and set a $29.00 target price (up previously from $28.00) on shares of Amalgamated Financial in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 5th.

Amalgamated Financial Price Performance

Shares of AMAL traded up $0.71 during mid-day trading on Friday, reaching $24.60. 145,668 shares of the stock traded hands, compared to its average volume of 145,418. The firm has a fifty day moving average price of $23.19 and a 200 day moving average price of $22.82. The company has a market cap of $750.30 million, a price-to-earnings ratio of 8.41 and a beta of 0.94. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.52. Amalgamated Financial Corp. has a 1 year low of $14.05 and a 1 year high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $105.39 million for the quarter, compared to analysts’ expectations of $71.59 million. Amalgamated Financial had a net margin of 22.71% and a return on equity of 16.60%. During the same quarter last year, the firm earned $0.83 earnings per share. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.07 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The business 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 $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.95%. Amalgamated Financial’s payout ratio is 13.99%.

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.