AlphaQuest LLC Reduces Position in 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 reduced its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 83.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMAL. Summit Securities Group LLC bought a new stake in shares of Amalgamated Financial in the 1st quarter worth about $26,000. Park Square Financial Group LLC bought a new stake in shares of Amalgamated Financial in the 4th quarter worth about $41,000. US Bancorp DE increased its holdings in shares of Amalgamated Financial by 12.9% in the 1st quarter. US Bancorp DE now owns 3,343 shares of the company's stock worth $96,000 after buying an additional 381 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Amalgamated Financial by 4,136.8% in the 1st quarter. GAMMA Investing LLC now owns 4,830 shares of the company's stock worth $139,000 after buying an additional 4,716 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Amalgamated Financial in the 4th quarter worth about $224,000. 75.93% of the stock is currently owned by institutional investors.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 4,106 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $29.77, for a total transaction of $122,235.62. Following the transaction, the executive vice president owned 12,303 shares in the company, valued at approximately $366,260.31. This represents a 25.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

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

Amalgamated Financial Trading Up 1.4%

Amalgamated Financial stock traded up $0.41 during trading hours on Thursday, hitting $29.07. The company had a trading volume of 162,659 shares, compared to its average volume of 211,994. The firm has a market cap of $875.27 million, a P/E ratio of 8.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 1 year low of $25.03 and a 1 year high of $38.19. The company has a 50-day moving average price of $30.47 and a two-hundred day moving average price of $29.95.

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

Amalgamated Financial Dividend Announcement

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

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.