11,777 Shares in Amalgamated Financial Corp. $AMAL Bought by PDT Partners LLC

PDT Partners LLC acquired a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 11,777 shares of the company’s stock, valued at approximately $541,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after purchasing an additional 468 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Amalgamated Financial by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after purchasing an additional 9,500 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Amalgamated Financial by 373.1% during the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after buying an additional 34,923 shares during the period. Legal & General Group Plc boosted its position in shares of Amalgamated Financial by 11.6% during the second quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock worth $670,000 after buying an additional 2,231 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Amalgamated Financial by 27.9% during the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock worth $1,106,000 after buying an additional 7,741 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Trading Down 0.1%

Shares of Amalgamated Financial stock opened at $48.61 on Friday. Amalgamated Financial Corp. has a 12-month low of $25.13 and a 12-month high of $51.59. The stock has a market cap of $1.45 billion, a P/E ratio of 12.96 and a beta of 0.79. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $48.01 and its 200-day moving average is $43.21.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Equities research analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio (DPR) is 18.13%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, Piper Sandler raised their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amalgamated Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Insider Activity

In other news, Director Maryann Bruce sold 2,138 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $49.55, for a total transaction of $105,937.90. Following the transaction, the director directly owned 17,804 shares in the company, valued at $882,188.20. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason Darby sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $43.30, for a total transaction of $129,900.00. Following the completion of the sale, the chief financial officer directly owned 79,343 shares in the company, valued at approximately $3,435,551.90. The trade was a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,727 shares of company stock valued at $431,077 in the last quarter. Company insiders own 1.63% of the company’s stock.

Amalgamated Financial Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.