Millennium Management LLC Lowers Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Millennium Management LLC lowered its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,387 shares of the company’s stock after selling 28,403 shares during the period. Millennium Management LLC owned approximately 0.66% of Amalgamated Financial worth $5,545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMAL. Dimensional Fund Advisors LP boosted its holdings in Amalgamated Financial by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after acquiring an additional 43,213 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Amalgamated Financial by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after purchasing an additional 63,561 shares in the last quarter. Arjuna Capital grew its holdings in shares of Amalgamated Financial by 2.5% during the 2nd quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after purchasing an additional 4,319 shares during the period. Bank of New York Mellon Corp increased its position in Amalgamated Financial by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after purchasing an additional 4,555 shares in the last quarter. Finally, Clean Yield Group lifted its position in Amalgamated Financial by 0.9% during the second quarter. Clean Yield Group now owns 144,541 shares of the company’s stock valued at $3,960,000 after buying an additional 1,332 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insider Activity

In related news, major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the completion of the sale, the insider now owns 440,401 shares in the company, valued at approximately $13,674,451.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Amalgamated Financial Trading Up 3.7 %

AMAL opened at $32.90 on Friday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 10.19 and a beta of 0.92. The firm’s 50 day moving average is $30.82 and its 200-day moving average is $27.52. 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 $33.34.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating 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 company had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $77.33 million. During the same period in the prior year, the company posted $0.72 EPS. Analysts expect that Amalgamated Financial Corp. will post 3.33 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, August 6th. Amalgamated Financial’s payout ratio is 14.86%.

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.