Deutsche Bank AG Sells 1,423 Shares of Amalgamated Financial Corp. $AMAL

Deutsche Bank AG cut its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,530 shares of the company’s stock after selling 1,423 shares during the period. Deutsche Bank AG’s holdings in Amalgamated Financial were worth $360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Amalgamated Financial by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,186 shares of the company’s stock worth $341,000 after buying an additional 372 shares during the period. US Bancorp DE increased its stake in Amalgamated Financial by 12.9% in the first quarter. US Bancorp DE now owns 3,343 shares of the company’s stock worth $96,000 after purchasing an additional 381 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of Amalgamated Financial by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 28,696 shares of the company’s stock worth $825,000 after purchasing an additional 411 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Amalgamated Financial by 7.9% during the first quarter. New York State Common Retirement Fund now owns 6,811 shares of the company’s stock valued at $196,000 after purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Amalgamated Financial by 2.8% in the first quarter. Principal Financial Group Inc. now owns 19,529 shares of the company’s stock worth $561,000 after purchasing an additional 537 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amalgamated Financial

In other news, EVP Sean Searby sold 3,512 shares of Amalgamated Financial stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 8,044 shares of company stock worth $239,256. 1.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered 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 research report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.00.

Amalgamated Financial Trading Down 1.9%

NASDAQ AMAL opened at $29.11 on Friday. 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 company has a market capitalization of $876.47 million, a price-to-earnings ratio of 8.72 and a beta of 0.89. The company’s 50-day simple moving average is $30.62 and its two-hundred day simple moving average is $30.16.

Amalgamated Financial (NASDAQ:AMAL) last announced 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 analysts’ expectations of $82.52 million. Equities analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Amalgamated Financial’s dividend payout ratio (DPR) is 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.