PDT Partners LLC Purchases Shares of 11,777 Amalgamated Financial Corp. $AMAL

PDT Partners LLC acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the second quarter, HoldingsChannel.com reports. The firm acquired 11,777 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth about $156,331,000. Millennium Management LLC grew its stake in Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after buying an additional 203,440 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Amalgamated Financial in the 2nd quarter valued at about $6,931,000. Goldman Sachs Group Inc. raised its holdings in Amalgamated Financial by 78.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock valued at $9,470,000 after acquiring an additional 129,585 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Amalgamated Financial by 14.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after acquiring an additional 120,483 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock opened at $48.61 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.96 and a beta of 0.79. Amalgamated Financial Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. The company has a 50-day simple moving average of $48.01 and a two-hundred day simple moving average of $43.21.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. Analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, August 4th. Amalgamated Financial’s payout ratio is 18.13%.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $43.51, for a total value of $108,775.00. Following the completion of the transaction, the chief accounting officer directly owned 14,215 shares of the company’s stock, valued at $618,494.65. The trade was a 14.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Darby sold 3,000 shares of Amalgamated Financial stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $43.30, for a total value of $129,900.00. Following the completion of the transaction, the chief financial officer directly owned 79,343 shares of the company’s stock, valued at $3,435,551.90. This represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,727 shares of company stock worth $431,077. Company insiders own 1.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMAL. Keefe, Bruyette & Woods boosted their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Piper Sandler boosted their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Amalgamated Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.