Acadian Asset Management LLC Takes $213,000 Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Acadian Asset Management LLC acquired a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) in the second quarter, Holdings Channel reports. The fund acquired 7,808 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently bought and sold shares of the company. CWM LLC raised its position in shares of Amalgamated Financial by 679.7% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after acquiring an additional 1,203 shares in the last quarter. Parallel Advisors LLC grew its stake in Amalgamated Financial by 50.5% in the fourth 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. Allspring Global Investments Holdings LLC purchased a new position in Amalgamated Financial in the first quarter valued at about $126,000. SG Americas Securities LLC raised its holdings in Amalgamated Financial by 82.7% in the second quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock worth $345,000 after purchasing an additional 5,692 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Amalgamated Financial by 63.0% during the first quarter. Lazard Asset Management LLC now owns 15,600 shares of the company’s stock valued at $373,000 after buying an additional 6,030 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMAL shares. JPMorgan Chase & Co. lifted their price objective 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 reaffirmed an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Insiders Place Their Bets

In related news, CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $27.02, for a total value of $108,080.00. Following the sale, the chief financial officer now owns 56,470 shares in the company, valued at $1,525,819.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the sale, the chief financial officer now directly owns 56,470 shares of the company’s stock, valued at $1,525,819.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock in a transaction dated 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 transaction, the insider now owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,041 shares of company stock valued at $4,004,560. 0.90% of the stock is owned by company insiders.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $31.76 on Friday. 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 quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $969.44 million, a price-to-earnings ratio of 10.38 and a beta of 0.93. The stock’s 50-day simple moving average is $30.89 and its 200-day simple moving average is $26.73.

Amalgamated Financial (NASDAQ:AMAL) last released 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. 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 quarter in the previous year, the firm earned $0.72 EPS. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.29 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

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

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.