Empowered Funds LLC Has $4.03 Million Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Empowered Funds LLC decreased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 120,503 shares of the company’s stock after selling 4,019 shares during the period. Empowered Funds LLC’s holdings in Amalgamated Financial were worth $4,033,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMAL. FMR LLC boosted its stake in Amalgamated Financial by 198.0% during the 3rd quarter. FMR LLC now owns 35,663 shares of the company’s stock valued at $1,119,000 after purchasing an additional 23,697 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after buying an additional 89,444 shares during the period. State Street Corp lifted its position in shares of Amalgamated Financial by 4.9% during the 3rd quarter. State Street Corp now owns 704,868 shares of the company’s stock worth $22,112,000 after buying an additional 33,095 shares during the period. Tidal Investments LLC acquired a new stake in Amalgamated Financial during the 3rd quarter valued at $496,000. Finally, Geode Capital Management LLC increased its holdings in Amalgamated Financial by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock valued at $15,026,000 after purchasing an additional 34,109 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMAL shares. Piper Sandler raised their price target on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price objective on 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 Performance

AMAL stock opened at $36.40 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of 10.55 and a beta of 0.92. The business’s 50-day moving average price is $34.57 and its two-hundred day moving average price is $33.27. Amalgamated Financial Corp. has a 1-year low of $21.33 and a 1-year high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. As a group, research analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s payout ratio is 13.91%.

Insider Activity

In related news, major shareholder States Regional Joint Western sold 62,971 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $35.72, for a total transaction of $2,249,324.12. Following the completion of the sale, the insider now owns 7,263,423 shares of the company’s stock, valued at $259,449,469.56. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now directly owns 18,319 shares of the company’s stock, valued at $618,632.63. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,701 shares of company stock valued at $4,118,476. 0.90% of the stock is owned by company insiders.

Amalgamated Financial 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.