Bailard Inc. Makes New Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Bailard Inc. acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,003 shares of the company’s stock, valued at approximately $754,000.

Several other large investors also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its stake in Amalgamated Financial by 20.2% during the fourth quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after acquiring an additional 1,667 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Amalgamated Financial by 74.7% during the fourth quarter. Federated Hermes Inc. now owns 114,154 shares of the company’s stock valued at $3,075,000 after buying an additional 48,812 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Amalgamated Financial by 35.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock valued at $170,000 after buying an additional 1,665 shares during the period. Clean Yield Group boosted its position in shares of Amalgamated Financial by 3.5% during the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock valued at $3,919,000 after buying an additional 4,960 shares during the period. Finally, Denali Advisors LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter valued at approximately $423,000. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Stock Up 3.0 %

Shares of NASDAQ AMAL opened at $24.60 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $750.30 million, a price-to-earnings ratio of 8.60 and a beta of 0.94. The stock has a 50 day moving average price of $23.19 and a 200 day moving average price of $22.82. Amalgamated Financial Corp. has a 52-week low of $14.05 and a 52-week high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $105.39 million during the quarter, compared to analysts’ expectations of $71.59 million. Amalgamated Financial had a net margin of 22.71% and a return on equity of 16.60%. During the same quarter in the previous year, the firm posted $0.83 EPS. Sell-side analysts expect that Amalgamated Financial Corp. will post 3.07 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.95%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. Amalgamated Financial’s dividend payout ratio is currently 13.99%.

Analysts Set New Price Targets

AMAL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 5th. JPMorgan Chase & Co. dropped their target price on Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company 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.

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.