Amalgamated Financial Corp. $AMAL Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 33.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,963 shares of the company’s stock after selling 14,782 shares during the period. Principal Financial Group Inc.’s holdings in Amalgamated Financial were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAL. Thrivent Financial for Lutherans raised its stake in shares of Amalgamated Financial by 13.0% in the third quarter. Thrivent Financial for Lutherans now owns 158,163 shares of the company’s stock worth $4,294,000 after purchasing an additional 18,142 shares during the last quarter. AlphaQuest LLC acquired a new position in Amalgamated Financial in the 3rd quarter worth approximately $816,000. Federated Hermes Inc. raised its position in Amalgamated Financial by 0.7% during the 3rd quarter. Federated Hermes Inc. now owns 245,935 shares of the company’s stock worth $6,677,000 after buying an additional 1,713 shares during the last quarter. Olympiad Research LP acquired a new stake in Amalgamated Financial during the 3rd quarter valued at approximately $204,000. Finally, Figure 8 Investment Strategies LLC lifted its stake in Amalgamated Financial by 1.1% during the 3rd quarter. Figure 8 Investment Strategies LLC now owns 84,422 shares of the company’s stock valued at $2,292,000 after acquiring an additional 936 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler upgraded Amalgamated Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $27.00 to $28.00 in a research note on Wednesday, November 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Amalgamated Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Amalgamated Financial presently has an average rating of “Hold” and an average price target of $33.50.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $40.76 on Thursday. The stock’s 50-day simple moving average is $35.93 and its 200-day simple moving average is $30.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $1.22 billion, a PE ratio of 11.95 and a beta of 0.84. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $42.65.

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

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, February 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, February 3rd. This represents a $0.68 annualized dividend and a yield of 1.7%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s dividend payout ratio (DPR) is 19.94%.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, EVP Sam D. Brown sold 5,151 shares of the business’s 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.29% of the company’s stock.

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.