Deerfield Management Company L.P. Series C Makes New $1.22 Million Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Deerfield Management Company L.P. Series C bought a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 44,497 shares of the company’s stock, valued at approximately $1,219,000. Deerfield Management Company L.P. Series C owned approximately 0.15% of Amalgamated Financial as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after purchasing an additional 1,203 shares during the period. Parallel Advisors LLC grew its holdings in Amalgamated Financial by 50.5% during the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock valued at $44,000 after buying an additional 548 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after purchasing an additional 528 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Amalgamated Financial in the first quarter valued at approximately $126,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Amalgamated Financial during the 2nd quarter worth $213,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Amalgamated Financial Stock Down 0.8 %

AMAL stock opened at $30.84 on Thursday. The firm has a 50 day simple moving average of $30.90 and a 200 day simple moving average of $26.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $944.94 million, a PE ratio of 10.08 and a beta of 0.93. Amalgamated Financial Corp. has a 12 month low of $15.19 and a 12 month high of $33.24.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The business had revenue of $108.22 million during the quarter, compared to analyst estimates of $77.33 million. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.28 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.56%. Amalgamated Financial’s dividend payout ratio is currently 15.69%.

Insider Buying and Selling at Amalgamated Financial

In related news, major shareholder United Canada Council Workers sold 82,464 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the sale, the insider now directly owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the completion of the sale, the insider now directly owns 440,401 shares of the company’s stock, valued at approximately $13,674,451.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the completion of the transaction, the chief financial officer now directly owns 56,470 shares of the company’s stock, valued at approximately $1,525,819.40. The disclosure for this sale can be found here. Insiders have sold a total of 131,041 shares of company stock worth $4,004,560 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMAL. JPMorgan Chase & Co. increased their target price on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

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.