Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 49.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,680 shares of the company’s stock after acquiring an additional 3,880 shares during the period. Point72 Asset Management L.P.’s holdings in Amalgamated Financial were worth $320,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Creative Planning acquired a new stake in Amalgamated Financial in the 2nd quarter valued at about $311,000. Algert Global LLC raised its position in shares of Amalgamated Financial by 3.2% during the 2nd quarter. Algert Global LLC now owns 77,129 shares of the company’s stock worth $2,113,000 after acquiring an additional 2,360 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth about $1,219,000. Bank of Montreal Can acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth about $378,000. Finally, XTX Topco Ltd raised its position in shares of Amalgamated Financial by 16.4% during the 2nd quarter. XTX Topco Ltd now owns 10,269 shares of the company’s stock worth $281,000 after acquiring an additional 1,450 shares in the last quarter. Institutional investors and hedge funds 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 Amalgamated Financial 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 transaction, the insider now directly owns 384,980 shares in the company, valued at approximately $11,537,850.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMAL shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th. JPMorgan Chase & Co. raised 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.

Amalgamated Financial Trading Up 2.6 %

NASDAQ:AMAL opened at $31.20 on Friday. The stock’s 50 day moving average price is $30.76 and its 200 day moving average price is $27.27. The company has a market capitalization of $952.35 million, a PE ratio of 10.20 and a beta of 0.92. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. Amalgamated Financial Corp. has a 52-week low of $15.19 and a 52-week high of $33.24.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly 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. The firm had revenue of $108.22 million for the quarter, compared to the consensus estimate of $77.33 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same quarter last year, the business posted $0.72 EPS. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.28 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Amalgamated Financial’s dividend payout ratio is presently 15.69%.

Amalgamated Financial Company 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.