Los Angeles Capital Management LLC Sells 8,970 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Los Angeles Capital Management LLC decreased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,912 shares of the company’s stock after selling 8,970 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Amalgamated Financial were worth $2,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Amalgamated Financial by 679.7% in the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares during the period. US Bancorp DE grew its stake in Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after buying an additional 512 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Amalgamated Financial in the 1st quarter valued at about $126,000. DekaBank Deutsche Girozentrale lifted its position in Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Amalgamated Financial during the second quarter worth approximately $213,000. 75.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th.

Insiders Place Their Bets

In other news, major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the completion of the sale, the insider now directly owns 384,980 shares in the company, valued at approximately $11,537,850.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder States Regional Joint Western sold 175,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the sale, the insider now owns 7,558,575 shares in the company, valued at approximately $281,481,333. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the completion of the transaction, the insider now directly owns 384,980 shares in the company, valued at $11,537,850.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 625,919 shares of company stock worth $21,688,307 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Down 0.1 %

Shares of Amalgamated Financial stock opened at $36.67 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a 50-day moving average of $32.69 and a 200-day moving average of $29.43. Amalgamated Financial Corp. has a 52-week low of $20.05 and a 52-week high of $38.19. The stock has a market cap of $1.12 billion, a PE ratio of 10.79 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate of $79.50 million. During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

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.