Nwam LLC Takes $674,000 Position in Amalgamated Financial Corp. $AMAL

Nwam LLC bought a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,329 shares of the company’s stock, valued at approximately $674,000. Nwam LLC owned approximately 0.06% of Amalgamated Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hillsdale Investment Management Inc. bought a new position in Amalgamated Financial in the 1st quarter valued at about $311,000. PFG Investments LLC bought a new stake in Amalgamated Financial during the 1st quarter worth approximately $250,000. Hsbc Holdings PLC raised its stake in shares of Amalgamated Financial by 123.8% in the fourth quarter. Hsbc Holdings PLC now owns 52,596 shares of the company’s stock worth $1,685,000 after purchasing an additional 29,090 shares during the last quarter. Invesco Ltd. raised its stake in shares of Amalgamated Financial by 3.1% in the fourth quarter. Invesco Ltd. now owns 41,687 shares of the company’s stock worth $1,335,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Amalgamated Financial by 9.3% in the fourth quarter. Empowered Funds LLC now owns 126,644 shares of the company’s stock valued at $4,056,000 after purchasing an additional 10,759 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insider Transactions at Amalgamated Financial

In other news, CFO Jason Darby sold 3,000 shares of Amalgamated Financial stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the completion of the transaction, the chief financial officer directly owned 79,343 shares in the company, valued at approximately $3,435,551.90. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maryann Bruce sold 2,089 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total value of $86,463.71. Following the sale, the director owned 19,942 shares in the company, valued at approximately $825,399.38. The trade was a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,589 shares of company stock valued at $325,139 over the last three months. Company insiders own 1.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMAL shares. Piper Sandler upped their price target on Amalgamated Financial from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.00.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $48.30 on Friday. The business’s fifty day simple moving average is $43.60 and its 200 day simple moving average is $40.37. 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 Corp. has a 12 month low of $25.13 and a 12 month high of $48.59. The firm has a market capitalization of $1.44 billion, a P/E ratio of 14.04 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data 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). Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. The business had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.77%.

Amalgamated Financial Company Profile

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.