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

Avalon Trust Co trimmed its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,480 shares of the company’s stock after selling 785 shares during the quarter. Avalon Trust Co owned about 0.18% of Amalgamated Financial worth $1,441,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMAL. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amalgamated Financial by 35.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock worth $170,000 after acquiring an additional 1,665 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of 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 purchasing an additional 1,667 shares during the period. SG Americas Securities LLC increased its position in shares of Amalgamated Financial by 29.6% during the 4th quarter. SG Americas Securities LLC now owns 10,290 shares of the company’s stock valued at $277,000 after purchasing an additional 2,353 shares during the last quarter. AJOVista LLC purchased a new stake in Amalgamated Financial during the 4th quarter valued at $94,000. Finally, Clean Yield Group lifted its position in Amalgamated Financial by 3.5% in the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock worth $3,919,000 after buying an additional 4,960 shares during the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMAL shares. Keefe, Bruyette & Woods reduced 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 note on Friday, April 5th. JPMorgan Chase & Co. reduced their price objective on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, Piper Sandler restated an “overweight” rating and set a $29.00 target price (up previously from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th.

Amalgamated Financial Trading Up 0.8 %

Shares of NASDAQ:AMAL traded up $0.19 on Friday, hitting $25.38. 89,818 shares of the company’s stock were exchanged, compared to its average volume of 115,293. The business’s 50 day simple moving average is $23.30 and its two-hundred day simple moving average is $23.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $774.09 million, a price-to-earnings ratio of 8.29 and a beta of 0.91. Amalgamated Financial Corp. has a 12 month low of $14.05 and a 12 month high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $107.16 million during the quarter, compared to analyst estimates of $75.77 million. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.81%. During the same quarter last year, the business posted $0.74 EPS. Analysts anticipate 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 issued a $0.12 dividend. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.89%. Amalgamated Financial’s payout ratio is presently 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.