Los Angeles Capital Management LLC Lowers Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Los Angeles Capital Management LLC cut its position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,152 shares of the company's stock after selling 13,760 shares during the quarter. Los Angeles Capital Management LLC owned 0.18% of Amalgamated Financial worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AMAL. Ieq Capital LLC acquired a new stake in Amalgamated Financial during the 4th quarter worth approximately $241,000. Principal Financial Group Inc. increased its position in shares of Amalgamated Financial by 10.0% during the fourth quarter. Principal Financial Group Inc. now owns 18,992 shares of the company's stock worth $636,000 after acquiring an additional 1,722 shares during the period. Congress Asset Management Co. acquired a new stake in shares of Amalgamated Financial in the fourth quarter valued at $5,339,000. New York State Teachers Retirement System acquired a new position in Amalgamated Financial during the 4th quarter worth $55,000. Finally, Figure 8 Investment Strategies LLC purchased a new stake in Amalgamated Financial during the 4th quarter worth about $2,778,000. Hedge funds and other institutional investors own 75.93% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder States Regional Joint Western sold 1,327 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $34.29, for a total transaction of $45,502.83. Following the completion of the sale, the insider now owns 7,121,506 shares in the company, valued at $244,196,440.74. This represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the transaction, the director now directly owns 18,319 shares in the company, valued at $618,632.63. The trade was a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,730 shares of company stock valued at $811,052. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMAL has been the subject of several recent research reports. Piper Sandler cut Amalgamated Financial from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $38.00 in a research note on Friday, February 21st. Keefe, Bruyette & Woods lifted their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th.

Amalgamated Financial Stock Down 2.7 %

Shares of AMAL traded down $0.88 during mid-day trading on Monday, reaching $31.57. The company's stock had a trading volume of 311,253 shares, compared to its average volume of 237,484. The company's 50 day moving average is $34.41 and its 200 day moving average is $33.71. The stock has a market cap of $968.22 million, a PE ratio of 9.15 and a beta of 0.92. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. Amalgamated Financial's dividend payout ratio is currently 16.23%.

About Amalgamated Financial

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.