Arjuna Capital Acquires 4,319 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Arjuna Capital grew its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 176,180 shares of the company’s stock after purchasing an additional 4,319 shares during the period. Amalgamated Financial accounts for about 1.3% of Arjuna Capital’s portfolio, making the stock its 22nd largest position. Arjuna Capital’s holdings in Amalgamated Financial were worth $4,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its position in Amalgamated Financial by 11.0% during the second quarter. Principal Financial Group Inc. now owns 17,638 shares of the company’s stock worth $483,000 after buying an additional 1,755 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Amalgamated Financial by 1.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after acquiring an additional 616 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Amalgamated Financial by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock valued at $4,347,000 after acquiring an additional 4,555 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Amalgamated Financial by 82.7% in the 2nd quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock valued at $345,000 after acquiring an additional 5,692 shares in the last quarter. Finally, Clean Yield Group lifted its holdings in Amalgamated Financial by 0.9% in the 2nd quarter. Clean Yield Group now owns 144,541 shares of the company’s stock worth $3,960,000 after purchasing an additional 1,332 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock traded up $0.17 during trading on Friday, reaching $32.99. The company’s stock had a trading volume of 113,527 shares, compared to its average volume of 144,141. The business’s fifty day moving average price is $29.45 and its 200-day moving average price is $25.92. Amalgamated Financial Corp. has a one year low of $15.19 and a one year high of $33.24. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 10.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. Amalgamated Financial had a return on equity of 16.67% and a net margin of 23.64%. The company had revenue of $108.22 million for the quarter, compared to the consensus estimate of $77.33 million. During the same period in the previous year, the business posted $0.72 EPS. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.21 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Wall Street Analysts Forecast Growth

AMAL has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 27th.

Insiders Place Their Bets

In other news, CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $27.02, for a total transaction of $108,080.00. Following the completion of the transaction, the chief financial officer now owns 56,470 shares of the company’s stock, valued at $1,525,819.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

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.