Los Angeles Capital Management LLC Sells 8,970 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Los Angeles Capital Management LLC trimmed its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 11.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 67,912 shares of the company’s stock after selling 8,970 shares during the period. Los Angeles Capital Management LLC owned about 0.22% of Amalgamated Financial worth $2,130,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after purchasing an additional 63,561 shares during the last quarter. LSV Asset Management bought a new stake in shares of Amalgamated Financial in the 2nd quarter valued at about $1,378,000. Assenagon Asset Management S.A. acquired a new stake in shares of Amalgamated Financial in the 3rd quarter valued at approximately $1,440,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Amalgamated Financial in the 2nd quarter valued at approximately $1,219,000. Finally, Dimensional Fund Advisors LP boosted its stake in Amalgamated Financial by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock worth $31,716,000 after acquiring an additional 43,213 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Insider Activity

In related news, CFO Jason Darby sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.59, for a total transaction of $146,360.00. Following the completion of the transaction, the chief financial officer now directly owns 50,208 shares in the company, valued at approximately $1,837,110.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Jason Darby sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the transaction, the chief financial officer now owns 50,208 shares of the company’s stock, valued at approximately $1,837,110.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder United Workers sold 55,000 shares of Amalgamated Financial stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the completion of the sale, the insider now owns 7,379,084 shares in the company, valued at $274,723,297.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 625,919 shares of company stock worth $21,688,307 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Down 0.1 %

NASDAQ AMAL opened at $36.67 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s 50-day moving average is $32.69 and its 200-day moving average is $29.43. Amalgamated Financial Corp. has a one year low of $20.05 and a one year high of $38.19. The firm has a market cap of $1.12 billion, a P/E ratio of 10.79 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The company had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. Sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is 14.12%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

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.