Acadian Asset Management LLC Buys New Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Acadian Asset Management LLC purchased a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,808 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares in the last quarter. Parallel Advisors LLC grew its holdings in Amalgamated Financial by 50.5% during the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock valued at $44,000 after buying an additional 548 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Amalgamated Financial during the 1st quarter valued at approximately $126,000. SG Americas Securities LLC increased its stake in Amalgamated Financial by 82.7% in the 2nd quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock worth $345,000 after acquiring an additional 5,692 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Amalgamated Financial during the 4th quarter worth approximately $388,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 82,464 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the sale, the insider now directly owns 440,401 shares of the company’s stock, valued at $13,674,451.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction on Friday, June 28th. The stock was sold at an average price of $27.02, for a total transaction of $108,080.00. Following the completion of the sale, the chief financial officer now directly owns 56,470 shares of the company’s stock, valued at approximately $1,525,819.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder United Canada Council Workers sold 82,464 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 440,401 shares of the company’s stock, valued at $13,674,451.05. The disclosure for this sale can be found here. Insiders sold a total of 131,041 shares of company stock worth $4,004,560 in the last quarter. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMAL has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Trading Down 3.0 %

AMAL stock opened at $31.76 on Friday. Amalgamated Financial Corp. has a twelve month low of $15.19 and a twelve month high of $33.24. The stock has a market capitalization of $969.44 million, a price-to-earnings ratio of 10.38 and a beta of 0.93. 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 firm’s fifty day simple moving average is $30.89 and its two-hundred day simple moving average is $26.73.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $108.22 million for the quarter, compared to the consensus estimate of $77.33 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same period in the prior year, the firm posted $0.72 EPS. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.29 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio is currently 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.