Two Sigma Investments LP Lowers Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Two Sigma Investments LP cut its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 35.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,000 shares of the company’s stock after selling 25,801 shares during the period. Two Sigma Investments LP owned about 0.15% of Amalgamated Financial worth $1,540,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Amalgamated Financial by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company’s stock worth $40,803,000 after acquiring an additional 31,647 shares during the period. American Century Companies Inc. raised its position in Amalgamated Financial by 3.6% during the fourth quarter. American Century Companies Inc. now owns 502,848 shares of the company’s stock valued at $16,830,000 after purchasing an additional 17,410 shares in the last quarter. Geode Capital Management LLC raised its position in Amalgamated Financial by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 480,846 shares of the company’s stock valued at $16,098,000 after purchasing an additional 1,958 shares in the last quarter. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Amalgamated Financial in the fourth quarter worth about $13,093,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Amalgamated Financial by 26.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 322,833 shares of the company’s stock worth $10,805,000 after buying an additional 68,381 shares during the period. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $30.16 on Wednesday. Amalgamated Financial Corp. has a twelve month low of $24.02 and a twelve month high of $38.19. The company has a 50 day moving average of $28.66 and a 200 day moving average of $31.94. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a market cap of $922.59 million, a P/E ratio of 8.74 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.88. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. The firm had revenue of $79.69 million during the quarter, compared to the consensus estimate of $74.78 million. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, research analysts expect 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 was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.14 per share. 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 presently 16.62%.

Amalgamated Financial announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling at Amalgamated Financial

In other news, EVP Tyrone Graham sold 869 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the sale, the executive vice president now directly owns 10,580 shares in the company, valued at approximately $314,543.40. This represents a 7.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.29% of the company’s stock.

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.