Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 68.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,361 shares of the company’s stock after selling 20,616 shares during the quarter. Jane Street Group LLC’s holdings in Amalgamated Financial were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Amalgamated Financial during the fourth quarter worth approximately $38,000. New York State Teachers Retirement System bought a new position in shares of Amalgamated Financial in the fourth quarter valued at approximately $55,000. KLP Kapitalforvaltning AS bought a new position in shares of Amalgamated Financial during the 4th quarter valued at about $90,000. US Bancorp DE lifted its holdings in shares of Amalgamated Financial by 28.1% during the fourth quarter. US Bancorp DE now owns 2,962 shares of the company’s stock valued at $99,000 after purchasing an additional 650 shares during the last quarter. Finally, Midwest Professional Planners LTD. purchased a new stake in shares of Amalgamated Financial in the fourth quarter valued at $210,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Insider Activity

In other Amalgamated Financial news, EVP Tyrone Graham sold 869 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now owns 10,580 shares of the company’s stock, valued at $314,543.40. The trade was a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,926 shares of company stock worth $145,600 in the last 90 days. Corporate insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMAL shares. Keefe, Bruyette & Woods reduced their price target on Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $30.12 on Tuesday. The firm has a 50 day moving average of $28.65 and a 200-day moving average of $31.96. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $921.37 million, a P/E ratio of 8.73 and a beta of 0.86. Amalgamated Financial Corp. has a 1 year low of $24.02 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, April 24th. The company reported $0.88 EPS for the quarter, meeting the consensus estimate of $0.88. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The company had revenue of $79.69 million during the quarter, compared to analysts’ expectations of $74.78 million. During the same period last year, the firm earned $0.89 EPS. As a group, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial declared that its board has approved a share buyback program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, May 6th. Amalgamated Financial’s dividend payout ratio (DPR) is 16.62%.

Amalgamated Financial 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.