Cubist Systematic Strategies LLC Has $1.35 Million Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)

Cubist Systematic Strategies LLC lowered its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 23.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,118 shares of the company’s stock after selling 14,654 shares during the period. Cubist Systematic Strategies LLC owned 0.16% of Amalgamated Financial worth $1,346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new position in shares of Amalgamated Financial during the 1st quarter valued at $909,000. American Century Companies Inc. raised its holdings in Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after buying an additional 63,561 shares in the last quarter. LSV Asset Management bought a new stake in shares of Amalgamated Financial during the 2nd quarter worth about $1,378,000. Lazard Asset Management LLC increased its holdings in shares of Amalgamated Financial by 63.0% during the 1st quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after acquiring an additional 6,030 shares during the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Amalgamated Financial by 91.1% in the 1st quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock valued at $720,000 after acquiring an additional 14,300 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the completion of the transaction, the insider now owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMAL shares. JPMorgan Chase & Co. upped their target price on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Stock Performance

AMAL opened at $30.46 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $30.87 and its two-hundred day moving average price is $27.09. The firm has a market capitalization of $929.76 million, a P/E ratio of 9.95 and a beta of 0.93. Amalgamated Financial Corp. has a 12-month low of $15.19 and a 12-month high of $33.24.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The business had revenue of $108.22 million for the quarter, compared to analyst estimates of $77.33 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that Amalgamated Financial Corp. will post 3.28 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 6th. Amalgamated Financial’s payout ratio is presently 15.69%.

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.