Teacher Retirement System of Texas Sells 11,155 Shares of Amalgamated Financial Corp. $AMAL

Teacher Retirement System of Texas decreased its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 30.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,435 shares of the company’s stock after selling 11,155 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of Amalgamated Financial worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMAL. Alliancebernstein L.P. raised its position in shares of Amalgamated Financial by 1,738.5% in the first quarter. Alliancebernstein L.P. now owns 767,438 shares of the company’s stock valued at $22,064,000 after buying an additional 725,695 shares in the last quarter. Boston Trust Walden Corp bought a new position in Amalgamated Financial during the 2nd quarter worth $16,974,000. Adage Capital Partners GP L.L.C. increased its stake in 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 acquiring an additional 192,577 shares during the period. Nuveen LLC acquired a new position in Amalgamated Financial in the 1st quarter valued at $3,416,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Amalgamated Financial by 33.1% during the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company’s stock valued at $10,021,000 after acquiring an additional 86,714 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $27.87 on Friday. The business has a fifty day simple moving average of $27.63 and a 200 day simple moving average of $29.35. The company has a market cap of $834.43 million, a P/E ratio of 8.39 and a beta of 0.88. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a twelve month low of $25.03 and a twelve month high of $37.86.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Monday, December 19th. The company reported $0.46 EPS for the quarter. The firm had revenue of $49.68 million during the quarter. Amalgamated Financial had a return on equity of 14.75% and a net margin of 22.97%. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.56 annualized dividend and a yield of 2.0%. Amalgamated Financial’s dividend payout ratio is presently 16.87%.

Analysts Set New Price Targets

A number of brokerages recently commented on AMAL. Piper Sandler cut Amalgamated Financial from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Amalgamated Financial in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.00.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, Director Edgar Romney sold 6,697 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $27.34, for a total transaction of $183,095.98. Following the sale, the director owned 16,763 shares of the company’s stock, valued at approximately $458,300.42. The trade was a 28.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Julie Kelly sold 6,697 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.34, for a total transaction of $183,095.98. Following the transaction, the director owned 16,763 shares of the company’s stock, valued at $458,300.42. This trade represents a 28.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,961 shares of company stock worth $837,329. Corporate insiders own 1.29% of the company’s stock.

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.