11,330 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 11,330 shares of the company’s stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC increased its holdings in Amalgamated Financial by 91.7% in the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after acquiring an additional 57,008 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Amalgamated Financial during the third quarter valued at about $496,000. JPMorgan Chase & Co. lifted its position in shares of Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after buying an additional 89,444 shares in the last quarter. USA Financial Formulas bought a new position in Amalgamated Financial during the fourth quarter valued at approximately $34,000. Finally, Ballentine Partners LLC grew its holdings in Amalgamated Financial by 15.8% during the 4th quarter. Ballentine Partners LLC now owns 16,712 shares of the company’s stock valued at $559,000 after buying an additional 2,283 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Tyrone Graham sold 869 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,580 shares in the company, valued at $314,543.40. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder States Regional Joint Western sold 18,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the completion of the transaction, the insider now directly owns 7,167,816 shares in the company, valued at $245,641,054.32. This trade represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,253 shares of company stock valued at $905,433 over the last 90 days. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

AMAL has been the topic of several recent research reports. Piper Sandler cut Amalgamated Financial from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $38.00 in a report on Friday, February 21st. Keefe, Bruyette & Woods lowered their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, April 25th.

Amalgamated Financial Price Performance

NASDAQ:AMAL opened at $29.50 on Friday. The firm has a market capitalization of $905.27 million, a price-to-earnings ratio of 8.55 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50 day simple moving average of $28.50 and a 200-day simple moving average of $32.63. Amalgamated Financial Corp. has a 1 year low of $24.02 and a 1 year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. The company had revenue of $79.69 million during the quarter, compared to analyst estimates of $74.78 million. During the same period in the previous year, the firm earned $0.89 earnings per share. Equities analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

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

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, May 6th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 6th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.62%.

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.