Amalgamated Financial Corp. (NASDAQ:AMAL) Position Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 83.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,200 shares of the company’s stock after selling 88,300 shares during the quarter. Renaissance Technologies LLC owned 0.06% of Amalgamated Financial worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in AMAL. Rhumbline Advisers lifted its position in Amalgamated Financial by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock worth $822,000 after buying an additional 393 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Amalgamated Financial by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after purchasing an additional 616 shares during the last quarter. Quest Partners LLC grew its stake in Amalgamated Financial by 6.9% in the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after purchasing an additional 646 shares in the last quarter. Finally, Harrington Investments INC increased its position in Amalgamated Financial by 1.0% in the 2nd quarter. Harrington Investments INC now owns 75,900 shares of the company’s stock worth $2,080,000 after purchasing an additional 760 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, major shareholder United Canada Council Workers sold 82,464 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $2,560,507.20. Following the sale, the insider now directly owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $31.74 on Friday. The stock has a market capitalization of $968.83 million, a P/E ratio of 10.37 and a beta of 0.92. The business has a 50-day moving average of $30.74 and a two-hundred day moving average of $27.45. Amalgamated Financial Corp. has a fifty-two week low of $15.19 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63.

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

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 annualized dividend and a yield of 1.51%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

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.