Avalon Trust Co Reduces Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Avalon Trust Co decreased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,760 shares of the company’s stock after selling 1,070 shares during the period. Avalon Trust Co owned 0.17% of Amalgamated Financial worth $1,699,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its holdings in Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after acquiring an additional 512 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth about $34,000. R Squared Ltd purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth about $38,000. Harrington Investments INC increased its holdings in Amalgamated Financial by 1.7% in the fourth quarter. Harrington Investments INC now owns 80,510 shares of the company’s stock valued at $2,695,000 after buying an additional 1,310 shares during the last quarter. Finally, Martingale Asset Management L P increased its holdings in Amalgamated Financial by 2.0% in the third quarter. Martingale Asset Management L P now owns 72,873 shares of the company’s stock valued at $2,286,000 after buying an additional 1,450 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AMAL shares. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Tyrone Graham sold 869 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.73, for a total value of $25,835.37. Following the transaction, the executive vice president now directly owns 10,580 shares of the company’s stock, valued at approximately $314,543.40. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the transaction, the insider now directly owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. This represents a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,916 shares of company stock valued at $1,035,526. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Up 2.7 %

NASDAQ AMAL opened at $29.14 on Friday. The company has a market capitalization of $894.22 million, a PE ratio of 8.45 and a beta of 0.93. Amalgamated Financial Corp. has a 1-year low of $21.33 and a 1-year high of $38.19. The firm’s fifty day simple moving average is $33.60 and its 200-day simple moving average is $33.60. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.92%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.23%.

Amalgamated Financial declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Amalgamated Financial Profile

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.