Cubist Systematic Strategies LLC Sells 14,654 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Cubist Systematic Strategies LLC reduced its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 23.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 49,118 shares of the company’s stock after selling 14,654 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Amalgamated Financial were worth $1,346,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMAL. Rhumbline Advisers raised its stake in Amalgamated Financial by 1.3% during the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock worth $822,000 after acquiring an additional 393 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after purchasing an additional 528 shares in the last quarter. Parallel Advisors LLC lifted 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 purchasing an additional 548 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Amalgamated Financial by 1.7% in the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after buying an additional 616 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Amalgamated Financial by 6.9% during the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after buying an additional 646 shares during the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Trading Down 2.9 %

Shares of NASDAQ AMAL opened at $30.46 on Wednesday. Amalgamated Financial Corp. has a 1-year low of $15.19 and a 1-year high of $33.24. The company has a 50-day moving average of $30.87 and a two-hundred day moving average of $27.09. The company has a market cap of $929.76 million, a PE ratio of 9.95 and a beta of 0.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.12.

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, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $77.33 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities analysts expect that Amalgamated Financial Corp. will post 3.28 earnings per share for the current fiscal 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio is 15.69%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMAL. JPMorgan Chase & Co. lifted their target price on shares of Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research note on Thursday, June 27th. 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 note on Monday, July 29th.

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 dated Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.