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

Allianz Asset Management GmbH decreased its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 27.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 251,832 shares of the company’s stock after selling 96,711 shares during the period. Allianz Asset Management GmbH owned about 0.82% of Amalgamated Financial worth $7,857,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in Amalgamated Financial in the 1st quarter valued at approximately $26,000. Signaturefd LLC increased its position in shares of Amalgamated Financial by 110.1% during the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock worth $48,000 after purchasing an additional 798 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Amalgamated Financial during the 1st quarter worth approximately $51,000. US Bancorp DE increased its position in shares of Amalgamated Financial by 12.9% during the 1st quarter. US Bancorp DE now owns 3,343 shares of the company’s stock worth $96,000 after purchasing an additional 381 shares during the last quarter. Finally, State of Wyoming increased its position in shares of Amalgamated Financial by 23.3% during the 1st quarter. State of Wyoming now owns 3,717 shares of the company’s stock worth $107,000 after purchasing an additional 703 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMAL shares. Weiss Ratings reaffirmed 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 decreased their target price for the stock from $34.00 to $27.00 in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.00.

Insider Activity

In other news, EVP Sean Searby sold 3,512 shares of the 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 sale, the executive vice president directly owned 8,791 shares of the company’s stock, valued at approximately $260,916.88. This represents a 28.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.29% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL opened at $26.70 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s fifty day moving average price is $28.02 and its two-hundred day moving average price is $29.24. Amalgamated Financial Corp. has a one year low of $25.03 and a one year high of $38.19. The firm has a market cap of $803.94 million, a price-to-earnings ratio of 7.99 and a beta of 0.86.

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

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.