Allianz Asset Management GmbH Sells 96,711 Shares of Amalgamated Financial Corp. $AMAL

Allianz Asset Management GmbH reduced its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 27.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 251,832 shares of the company’s stock after selling 96,711 shares during the period. Allianz Asset Management GmbH’s holdings in Amalgamated Financial were worth $7,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Amalgamated Financial by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,255,166 shares of the company’s stock worth $36,086,000 after buying an additional 48,803 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Amalgamated Financial by 1,738.5% during the 1st quarter. Alliancebernstein L.P. now owns 767,438 shares of the company’s stock worth $22,064,000 after buying an additional 725,695 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Amalgamated Financial by 35.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 740,642 shares of the company’s stock worth $21,293,000 after buying an additional 192,577 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Amalgamated Financial during the 2nd quarter worth $16,974,000. Finally, American Century Companies Inc. lifted its position in shares of Amalgamated Financial by 4.6% during the 1st quarter. American Century Companies Inc. now owns 526,141 shares of the company’s stock worth $15,127,000 after buying an additional 23,293 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Sean Searby sold 4,106 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $29.77, for a total transaction of $122,235.62. Following the completion of the transaction, the executive vice president directly owned 12,303 shares in the company, valued at $366,260.31. This trade represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is owned by company insiders.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $26.70 on Wednesday. The business’s 50-day moving average price is $28.02 and its 200-day moving average price is $29.24. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The firm has a market capitalization of $803.94 million, a price-to-earnings ratio of 7.99 and a beta of 0.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Monday, December 19th. The company reported $0.46 earnings per share (EPS) for the quarter. Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%.The company had revenue of $49.68 million during the quarter. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMAL shares. Weiss Ratings restated a “hold (c+)” rating on shares of Amalgamated Financial in a research report on Wednesday, October 8th. Piper Sandler lowered Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their price target for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amalgamated Financial has an average rating of “Hold” and an average target price of $33.00.

Amalgamated Financial Company 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.