Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Prudential Financial Inc.

Defense World · Feb 13, 2023 18:32

Prudential Financial Inc. reduced its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Get Rating) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,735 shares of the company's stock after selling 4,368 shares during the period. Prudential Financial Inc. owned about 0.14% of Amalgamated Financial worth $941,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Amalgamated Financial in the second quarter worth $87,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Amalgamated Financial in the second quarter worth $99,000. Lazard Asset Management LLC increased its stake in shares of Amalgamated Financial by 59.0% in the second quarter. Lazard Asset Management LLC now owns 5,059 shares of the company's stock worth $100,000 after buying an additional 1,878 shares during the last quarter. SG Americas Securities LLC bought a new stake in Amalgamated Financial during the second quarter valued at $126,000. Finally, MetLife Investment Management LLC bought a new stake in Amalgamated Financial during the first quarter valued at $134,000. 48.99% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Amalgamated Financial from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Tuesday, December 20th. Keefe, Bruyette & Woods lowered their target price on shares of Amalgamated Financial from $32.00 to $29.00 and set an "outperform" rating for the company in a research note on Tuesday, January 31st.

Insider Transactions at Amalgamated Financial

In related news, VP Sam D. Brown sold 6,961 shares of the company's stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $25.32, for a total value of $176,252.52. Following the completion of the sale, the vice president now owns 1,855 shares of the company's stock, valued at $46,968.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company's stock.

Amalgamated Financial Stock Up 1.1 %

Amalgamated Financial stock opened at $22.96 on Monday. The company has a 50-day simple moving average of $23.51 and a 200-day simple moving average of $23.62. The firm has a market capitalization of $704.18 million, a P/E ratio of 8.76 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.58 and a current ratio of 0.58. Amalgamated Financial Corp. has a one year low of $16.05 and a one year high of $27.33.

Amalgamated Financial (NASDAQ:AMAL – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.73 by $0.10. The business had revenue of $71.57 million during the quarter, compared to analyst estimates of $73.11 million. Amalgamated Financial had a net margin of 28.85% and a return on equity of 16.72%. As a group, equities analysts expect that Amalgamated Financial Corp. will post 3.1 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 20th. Stockholders of record on Monday, February 6th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, February 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. Amalgamated Financial's dividend payout ratio is currently 15.27%.

Amalgamated Financial Company Profile

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Amalgamated Financial Corp. operates as a holding company for Amalgamated Bank. It offers commercial and retail banking, investment management, and trust custody segments. The company was founded in 1923 and is headquartered in New York, NY.

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