Renaissance Technologies LLC Sells 88,300 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Renaissance Technologies LLC cut its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 83.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,200 shares of the company's stock after selling 88,300 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of Amalgamated Financial worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in Amalgamated Financial by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company's stock valued at $11,748,000 after acquiring an additional 63,561 shares in the last quarter. LSV Asset Management acquired a new position in shares of Amalgamated Financial during the second quarter worth about $1,378,000. Dimensional Fund Advisors LP grew its holdings in shares of Amalgamated Financial by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company's stock worth $31,716,000 after buying an additional 43,213 shares in the last quarter. Isthmus Partners LLC raised its position in Amalgamated Financial by 38.8% in the 1st quarter. Isthmus Partners LLC now owns 136,397 shares of the company's stock valued at $3,274,000 after buying an additional 38,112 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Amalgamated Financial in the 1st quarter valued at approximately $909,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Stock Up 3.7 %

Shares of NASDAQ:AMAL traded up $1.16 during midday trading on Friday, hitting $32.90. The stock had a trading volume of 167,323 shares, compared to its average volume of 142,509. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The business's 50-day simple moving average is $30.74 and its 200-day simple moving average is $27.45. Amalgamated Financial Corp. has a 12 month low of $15.19 and a 12 month high of $33.34. The company has a market cap of $1.01 billion, a P/E ratio of 9.83 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The company had revenue of $108.22 million for the quarter, compared to analyst estimates of $77.33 million. During the same period in the previous year, the business earned $0.72 EPS. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.33 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial's payout ratio is presently 14.86%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their target price on shares of Amalgamated Financial from $31.50 to $32.50 and gave the company an "overweight" rating in a research report on Thursday, June 27th.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial 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 transaction, the insider now directly owns 440,401 shares of the company's stock, valued at $13,674,451.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

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.