Trexquant Investment LP Raises Stock Holdings in Amalgamated Financial Corp. $AMAL

Key Points

• Trexquant Investment LP increased its holdings in Amalgamated Financial Corp. by 121.1% in the first quarter, purchasing 77,254 shares and now owning approximately 0.46% of the company.
• Insider activity saw EVP Sean Searby sell 4,106 shares at an average price of $29.77, decreasing his ownership by 25.02% to 12,303 shares.
• Piper Sandler downgraded Amalgamated Financial's rating from "neutral" to "underweight" and reduced its price target from $34.00 to $27.00, reflecting skepticism about the stock's performance.

Trexquant Investment LP raised its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 121.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,070 shares of the company's stock after purchasing an additional 77,254 shares during the quarter. Trexquant Investment LP owned 0.46% of Amalgamated Financial worth $4,056,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Amalgamated Financial by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,186 shares of the company's stock valued at $341,000 after purchasing an additional 372 shares during the period. US Bancorp DE grew its stake in shares of Amalgamated Financial by 12.9% during the 1st quarter. US Bancorp DE now owns 3,343 shares of the company's stock valued at $96,000 after acquiring an additional 381 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Amalgamated Financial by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 28,696 shares of the company's stock valued at $825,000 after acquiring an additional 411 shares during the period. New York State Common Retirement Fund grew its stake in shares of 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 valued at $196,000 after acquiring an additional 500 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Amalgamated Financial by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 19,529 shares of the company's stock valued at $561,000 after acquiring an additional 537 shares during the period. 75.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler downgraded Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $34.00 to $27.00 in a research note 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. According to data from MarketBeat.com, Amalgamated Financial presently has an average rating of "Hold" and a consensus price target of $33.00.

Insiders Place Their Bets

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 stock was sold at an average price of $29.77, for a total value of $122,235.62. Following the completion of the transaction, the executive vice president directly owned 12,303 shares in the company, valued at $366,260.31. This represents a 25.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.29% of the stock is owned by insiders.

Amalgamated Financial Price Performance

AMAL stock traded up $0.41 during midday trading on Thursday, hitting $29.07. The company's stock had a trading volume of 162,659 shares, compared to its average volume of 211,994. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $875.27 million, a price-to-earnings ratio of 8.70 and a beta of 0.92. The company has a 50 day moving average of $30.47 and a two-hundred day moving average of $29.95.

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

Amalgamated Financial Dividend Announcement

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

Amalgamated Financial 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.