Bridgeway Capital Management LLC Has $8.16 Million Position in Amalgamated Financial Corp. $AMAL

Key Points

• Bridgeway Capital Management LLC reduced its stake in Amalgamated Financial Corp. by 12.1%, owning approximately 0.93% of the company after selling 39,121 shares during the first quarter.
• Amalgamated Financial reported an EPS of $0.88 for the last quarter, missing analysts' estimates, with revenues of $82.18 million.
• The company announced a quarterly dividend of $0.14 per share, representing an annual yield of 2.0%, with a dividend payout ratio of 16.77%.

Bridgeway Capital Management LLC trimmed its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 283,712 shares of the company's stock after selling 39,121 shares during the period. Bridgeway Capital Management LLC owned about 0.93% of Amalgamated Financial worth $8,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMAL. Adage Capital Partners GP L.L.C. raised its stake in shares of Amalgamated Financial by 35.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 740,642 shares of the company's stock valued at $21,293,000 after purchasing an additional 192,577 shares during the period. Nuveen LLC acquired a new stake in shares of Amalgamated Financial in the 1st quarter valued at about $3,416,000. Allianz Asset Management GmbH raised its stake in shares of Amalgamated Financial by 33.1% in the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock valued at $10,021,000 after purchasing an additional 86,714 shares during the period. Trexquant Investment LP raised its stake in shares of Amalgamated Financial by 121.1% in the 1st quarter. Trexquant Investment LP now owns 141,070 shares of the company's stock valued at $4,056,000 after purchasing an additional 77,254 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Amalgamated Financial by 140.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 118,395 shares of the company's stock valued at $3,963,000 after purchasing an additional 69,079 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.

Insider Buying and Selling at Amalgamated Financial

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

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock traded up $0.06 on Monday, reaching $28.93. 146,832 shares of the stock were exchanged, compared to its average volume of 211,093. The firm's 50 day moving average is $30.37 and its 200-day moving average is $29.76. Amalgamated Financial Corp. has a one year low of $25.03 and a one year high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $871.08 million, a PE ratio of 8.66 and a beta of 0.92.

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

Amalgamated Financial Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Piper Sandler downgraded shares of 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 note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.00.

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.