AlphaQuest LLC Sells 20,121 Shares of Amalgamated Financial Corp. $AMAL

Key Points

• AlphaQuest LLC significantly reduced its stake in Amalgamated Financial Corp. by selling 20,121 shares, resulting in a 83.2% decrease in holdings.
• Credit Agricole S A and American Century Companies Inc. increased their positions in Amalgamated Financial by 31.5% and 4.6%, respectively, indicating continued institutional interest in the company.
• Piper Sandler downgraded Amalgamated Financial's stock rating from "neutral" to "underweight," lowering the target price from $34.00 to $27.00.

AlphaQuest LLC lowered its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 83.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,053 shares of the company's stock after selling 20,121 shares during the period. AlphaQuest LLC's holdings in Amalgamated Financial were worth $117,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Summit Securities Group LLC bought a new stake in Amalgamated Financial during the 1st quarter worth $26,000. Park Square Financial Group LLC bought a new stake in Amalgamated Financial during the 4th quarter worth $41,000. US Bancorp DE grew its position in Amalgamated Financial by 12.9% during the 1st quarter. US Bancorp DE now owns 3,343 shares of the company's stock worth $96,000 after acquiring an additional 381 shares during the last quarter. GAMMA Investing LLC grew its position in Amalgamated Financial by 4,136.8% during the 1st quarter. GAMMA Investing LLC now owns 4,830 shares of the company's stock worth $139,000 after acquiring an additional 4,716 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Amalgamated Financial by 7.9% during the 1st quarter. New York State Common Retirement Fund now owns 6,811 shares of the company's stock worth $196,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered Amalgamated Financial from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $33.00.

Amalgamated Financial Trading Down 0.7%

Shares of NASDAQ AMAL traded down $0.20 during trading on Friday, reaching $28.87. The company had a trading volume of 124,066 shares, compared to its average volume of 151,481. The company's fifty day moving average price is $30.37 and its 200-day moving average price is $29.80. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The stock has a market cap of $869.28 million, a P/E ratio of 8.64 and a beta of 0.92. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.02). The business had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. As a group, research analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Amalgamated Financial's dividend payout ratio is 16.77%.

Insider Activity at Amalgamated Financial

In other news, EVP Sean Searby sold 3,512 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $29.68, for a total value of $104,236.16. Following the completion of the sale, the executive vice president directly owned 8,791 shares of the company's stock, valued at $260,916.88. This represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.29% of the stock is currently owned by company insiders.

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.