Signaturefd LLC Purchases 798 Shares of Amalgamated Financial Corp. $AMAL

Signaturefd LLC raised its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 110.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523 shares of the company’s stock after buying an additional 798 shares during the quarter. Signaturefd LLC’s holdings in Amalgamated Financial were worth $48,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAL. Alliancebernstein L.P. grew its holdings in Amalgamated Financial by 1,738.5% in the 1st quarter. Alliancebernstein L.P. now owns 767,438 shares of the company’s stock valued at $22,064,000 after buying an additional 725,695 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in 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 buying an additional 192,577 shares in the last quarter. Nuveen LLC acquired a new position in Amalgamated Financial in the 1st quarter valued at $3,416,000. Allianz Asset Management GmbH grew its holdings in 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 buying an additional 86,714 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in 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 buying an additional 77,254 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

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 dated 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 owned 12,303 shares of the company’s stock, valued at $366,260.31. This represents a 25.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.29% of the stock is currently owned by insiders.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $27.49 on Tuesday. 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 Corp. has a twelve month low of $25.03 and a twelve month high of $38.19. The company has a market cap of $827.72 million, a P/E ratio of 8.23 and a beta of 0.86. The business has a fifty day simple moving average of $28.42 and a 200 day simple moving average of $29.40.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $82.52 million. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Amalgamated Financial’s dividend payout ratio is currently 16.77%.

Analyst Ratings Changes

A number of research analysts have commented on AMAL shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amalgamated Financial in a report on Saturday, September 27th. Piper Sandler downgraded Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their target price for the company 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, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.00.

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.