SG Americas Securities LLC Grows Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

SG Americas Securities LLC increased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 25.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,739 shares of the company’s stock after buying an additional 3,161 shares during the quarter. SG Americas Securities LLC owned about 0.05% of Amalgamated Financial worth $494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMAL. CWM LLC lifted its position in Amalgamated Financial by 679.7% in 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 during the period. Allspring Global Investments Holdings LLC acquired a new stake in Amalgamated Financial in the first quarter valued at about $126,000. DekaBank Deutsche Girozentrale lifted its position in Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after purchasing an additional 528 shares during the period. Acadian Asset Management LLC acquired a new stake in Amalgamated Financial in the second quarter valued at about $213,000. Finally, Quest Partners LLC lifted its position 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 during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Price Performance

AMAL stock opened at $34.52 on Thursday. The firm has a 50 day moving average of $31.05 and a 200-day moving average of $27.71. Amalgamated Financial Corp. has a 12-month low of $15.19 and a 12-month high of $34.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 11.28 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) 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 the consensus estimate of $77.33 million. During the same period last year, the firm earned $0.72 EPS. As a group, equities analysts expect that Amalgamated Financial Corp. will post 3.33 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. Amalgamated Financial’s dividend payout ratio is currently 15.69%.

Insider Buying and Selling

In related 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 transaction of $1,335,972.69. Following the completion of the transaction, the insider now directly owns 384,980 shares in the company, valued at $11,537,850.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods restated 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 shares of 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 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.