Thrivent Financial for Lutherans Purchases 18,142 Shares of Amalgamated Financial Corp. $AMAL

Thrivent Financial for Lutherans grew its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,163 shares of the company’s stock after purchasing an additional 18,142 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Amalgamated Financial were worth $4,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after buying an additional 468 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Amalgamated Financial by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after acquiring an additional 9,500 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Amalgamated Financial by 373.1% in the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after acquiring an additional 34,923 shares in the last quarter. Truist Financial Corp bought a new position in shares of Amalgamated Financial in the second quarter worth about $256,000. Finally, KLP Kapitalforvaltning AS grew its position in shares of Amalgamated Financial by 51.9% during the second quarter. KLP Kapitalforvaltning AS now owns 4,100 shares of the company’s stock worth $128,000 after purchasing an additional 1,400 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial Price Performance

AMAL stock opened at $41.25 on Friday. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $41.37. The firm has a market capitalization of $1.24 billion, a P/E ratio of 12.10 and a beta of 0.84. The company has a fifty day simple moving average of $34.30 and a two-hundred day simple moving average of $30.34. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.80%. The firm had revenue of $87.91 million for the quarter, compared to analysts’ expectations of $85.37 million. Analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, February 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, February 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is currently 19.94%.

Analyst Upgrades and Downgrades

AMAL has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Amalgamated Financial in a report on Monday, December 29th. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $27.00 to $28.00 in a research report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.50.

Insider Activity

In other news, EVP Sam D. Brown sold 5,151 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $35.50, for a total value of $182,860.50. Following the completion of the transaction, the executive vice president owned 53,232 shares in the company, valued at approximately $1,889,736. The trade was a 8.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is owned by insiders.

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.