Amalgamated Financial Corp. (NASDAQ:AMAL) Position Cut by Millennium Management LLC

Millennium Management LLC lowered its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 12.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 202,387 shares of the company’s stock after selling 28,403 shares during the period. Millennium Management LLC’s holdings in Amalgamated Financial were worth $5,545,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AMAL. Quadrature Capital Ltd acquired a new position in shares of Amalgamated Financial during the fourth quarter valued at $388,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Amalgamated Financial during the 1st quarter worth about $126,000. Denali Advisors LLC lifted its stake in shares of Amalgamated Financial by 91.1% in the 1st quarter. Denali Advisors LLC now owns 30,000 shares of the company’s stock worth $720,000 after acquiring an additional 14,300 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Amalgamated Financial by 8.7% in the first quarter. Principal Financial Group Inc. now owns 15,883 shares of the company’s stock valued at $381,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Amalgamated Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 109,764 shares of the company’s stock valued at $2,634,000 after acquiring an additional 8,225 shares during the period. 75.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock in a transaction that occurred 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 transaction, the insider now directly owns 440,401 shares of the company’s stock, valued at $13,674,451.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Up 3.7 %

Shares of NASDAQ:AMAL opened at $32.90 on Friday. 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 stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.19 and a beta of 0.92. Amalgamated Financial Corp. has a 1-year low of $15.19 and a 1-year high of $33.34. The company has a 50 day moving average price of $30.82 and a 200 day moving average price of $27.52.

Amalgamated Financial (NASDAQ:AMAL) last released 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. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. The business had revenue of $108.22 million during the quarter, compared to analyst estimates of $77.33 million. During the same period last year, the company posted $0.72 EPS. On average, research analysts anticipate 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. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 annualized dividend and a yield of 1.46%. Amalgamated Financial’s payout ratio is presently 14.86%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMAL. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their target price on Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research note on Thursday, June 27th.

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.