Clean Yield Group Cuts Holdings in Amalgamated Financial Corp. $AMAL

Clean Yield Group cut its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,894 shares of the company’s stock after selling 10,426 shares during the quarter. Clean Yield Group’s holdings in Amalgamated Financial were worth $3,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMAL. Bank of America Corp DE boosted its holdings in Amalgamated Financial by 36.8% during the fourth quarter. Bank of America Corp DE now owns 76,888 shares of the company’s stock worth $2,573,000 after purchasing an additional 20,679 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Amalgamated Financial by 8.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,610 shares of the company’s stock worth $1,861,000 after purchasing an additional 4,115 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Amalgamated Financial during the fourth quarter worth about $234,000. Mackenzie Financial Corp purchased a new position in Amalgamated Financial during the fourth quarter worth about $512,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Amalgamated Financial during the fourth quarter worth about $2,137,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Sean Searby sold 3,512 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $29.68, for a total value of $104,236.16. Following the sale, the executive vice president owned 8,791 shares of the company’s stock, valued at $260,916.88. The trade was a 28.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.29% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $27.69 on Monday. The firm has a market cap of $833.75 million, a price-to-earnings ratio of 8.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $38.19. The firm’s 50-day simple moving average is $28.96 and its two-hundred day simple moving average is $29.49.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.02). The company had revenue of $82.18 million during the quarter, compared to the consensus estimate of $82.52 million. Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.56 annualized dividend and a yield of 2.0%. Amalgamated Financial’s payout ratio is currently 16.77%.

Analysts Set New Price Targets

Separately, Piper Sandler cut shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $34.00 to $27.00 in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Amalgamated Financial currently has a consensus rating of “Hold” and an average target price of $33.00.

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.