AJOVista LLC Buys Shares of 3,489 Amalgamated Financial Corp. (NASDAQ:AMAL)

AJOVista LLC purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,489 shares of the company’s stock, valued at approximately $94,000.

Several other institutional investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Amalgamated Financial by 35.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock valued at $170,000 after acquiring an additional 1,665 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Amalgamated Financial during the third quarter valued at approximately $137,000. New York State Common Retirement Fund grew its stake in Amalgamated Financial by 20.2% in the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after acquiring an additional 1,667 shares during the period. Principal Financial Group Inc. acquired a new position in Amalgamated Financial in the 3rd quarter valued at $200,000. Finally, Denali Advisors LLC purchased a new position in Amalgamated Financial during the fourth quarter worth about $423,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. lowered their price objective on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th.

Amalgamated Financial Trading Up 0.8 %

Shares of AMAL stock traded up $0.19 during mid-day trading on Friday, reaching $25.38. The company’s stock had a trading volume of 89,818 shares, compared to its average volume of 115,293. The company’s 50 day simple moving average is $23.30 and its 200-day simple moving average is $23.19. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. Amalgamated Financial Corp. has a 12-month low of $14.05 and a 12-month high of $27.77. The firm has a market capitalization of $774.09 million, a PE ratio of 8.29 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. The company had revenue of $107.16 million during the quarter, compared to the consensus estimate of $75.77 million. Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, research analysts predict that Amalgamated Financial Corp. will post 3.13 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.12 per share. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 7th. This represents a $0.48 annualized dividend and a yield of 1.89%. Amalgamated Financial’s payout ratio is 13.07%.

Amalgamated Financial Company 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.