Abacus Wealth Partners LLC Acquires New Holdings in Amalgamated Financial Corp. $AMAL

Abacus Wealth Partners LLC acquired a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 65,566 shares of the company’s stock, valued at approximately $2,100,000.

A number of other large investors have also recently added to or reduced their stakes in AMAL. Isthmus Partners LLC boosted its stake in shares of Amalgamated Financial by 0.7% during the 4th quarter. Isthmus Partners LLC now owns 115,903 shares of the company’s stock worth $3,712,000 after purchasing an additional 790 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Amalgamated Financial during the 4th quarter worth about $935,000. Bailard Inc. boosted its stake in shares of Amalgamated Financial by 75.2% during the 4th quarter. Bailard Inc. now owns 16,303 shares of the company’s stock worth $522,000 after purchasing an additional 7,000 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Amalgamated Financial by 14.5% during the 4th quarter. Ballentine Partners LLC now owns 24,214 shares of the company’s stock worth $776,000 after purchasing an additional 3,058 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Amalgamated Financial during the 4th quarter worth about $485,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amalgamated Financial

In related news, EVP Sean Searby sold 4,948 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $39.42, for a total value of $195,050.16. Following the transaction, the executive vice president owned 23,055 shares in the company, valued at approximately $908,828.10. This trade represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Tyrone Graham sold 2,285 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $39.91, for a total transaction of $91,194.35. Following the completion of the transaction, the executive vice president owned 13,443 shares in the company, valued at $536,510.13. The trade was a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,482 shares of company stock worth $335,658 in the last 90 days. 1.63% of the stock is currently owned by insiders.

Amalgamated Financial Price Performance

AMAL opened at $39.68 on Friday. The company’s 50 day simple moving average is $40.01 and its 200 day simple moving average is $35.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $44.01. The stock has a market capitalization of $1.19 billion, a PE ratio of 11.53 and a beta of 0.81.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The company had revenue of $91.36 million during the quarter, compared to analyst estimates of $91.16 million. As a group, sell-side analysts expect that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Tuesday, May 5th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.7%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.77%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Piper Sandler raised their price target on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amalgamated Financial currently has an average rating of “Hold” and an average target price of $44.00.

Amalgamated Financial 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.