Bridgeway Capital Management LLC Cuts Position in Amalgamated Financial Corp. $AMAL

Bridgeway Capital Management LLC lowered its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,712 shares of the company’s stock after selling 39,121 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.93% of Amalgamated Financial worth $8,157,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMAL. Envestnet Asset Management Inc. purchased a new stake in Amalgamated Financial in the 4th quarter worth $279,000. Stifel Financial Corp acquired a new position in shares of Amalgamated Financial during the 4th quarter worth about $619,000. Northern Trust Corp raised its position in shares of Amalgamated Financial by 0.8% during the 4th quarter. Northern Trust Corp now owns 217,443 shares of the company’s stock worth $7,278,000 after purchasing an additional 1,776 shares during the last quarter. AQR Capital Management LLC lifted its stake in Amalgamated Financial by 58.6% in the 4th quarter. AQR Capital Management LLC now owns 147,949 shares of the company’s stock valued at $4,952,000 after buying an additional 54,692 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Amalgamated Financial in the 4th quarter worth about $224,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Sean Searby sold 3,512 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $29.68, for a total transaction of $104,236.16. Following the completion of the transaction, the executive vice president directly owned 8,791 shares of the company’s stock, valued at $260,916.88. The trade was a 28.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.29% of the company’s stock.

Amalgamated Financial Stock Up 0.8%

Amalgamated Financial stock opened at $28.66 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $862.92 million, a PE ratio of 8.58 and a beta of 0.92. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $38.19. The firm has a 50 day moving average price of $30.47 and a 200 day moving average price of $29.95.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.02). The firm had revenue of $82.18 million for the quarter, compared to analysts’ expectations of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Research analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

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

Analyst Ratings Changes

Separately, Piper Sandler downgraded Amalgamated Financial from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $34.00 to $27.00 in a research report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

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.