AlphaQuest LLC Makes New Investment in Amalgamated Financial Corp. $AMAL

AlphaQuest LLC bought a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,038 shares of the company’s stock, valued at approximately $816,000. AlphaQuest LLC owned approximately 0.10% of Amalgamated Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Amalgamated Financial during the 3rd quarter valued at $33,000. Signaturefd LLC increased its holdings in shares of Amalgamated Financial by 110.1% in the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock worth $48,000 after purchasing an additional 798 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Amalgamated Financial by 140.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after purchasing an additional 1,177 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Amalgamated Financial by 37.2% during the second quarter. Ameritas Investment Partners Inc. now owns 2,392 shares of the company’s stock valued at $75,000 after purchasing an additional 648 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Sam D. Brown sold 5,151 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 53,232 shares of the company’s stock, valued at approximately $1,889,736. This trade represents 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 this link. Corporate insiders own 1.29% of the company’s stock.

Amalgamated Financial Trading Up 3.5%

Shares of NASDAQ:AMAL opened at $40.19 on Tuesday. The stock’s 50-day simple moving average is $33.42 and its two-hundred day simple moving average is $30.11. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.79 and a beta of 0.83. Amalgamated Financial Corp. has a 52-week low of $25.03 and a 52-week high of $40.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64.

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

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd will be paid a $0.17 dividend. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, February 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.42%.

Analyst Upgrades and Downgrades

AMAL has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amalgamated Financial in a report on Monday, December 29th. Piper Sandler raised shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and raised their price target for the company from $27.00 to $28.00 in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amalgamated Financial has a consensus rating of “Hold” and an average price target of $33.50.

About Amalgamated Financial

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.