Jefferies Financial Group Inc. Purchases New Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Jefferies Financial Group Inc. purchased a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 55,000 shares of the company’s stock, valued at approximately $1,841,000.

Several other large investors also recently added to or reduced their stakes in the stock. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Amalgamated Financial in the 4th quarter worth approximately $13,093,000. Congress Asset Management Co. bought a new stake in Amalgamated Financial in the fourth quarter worth $5,339,000. Figure 8 Investment Strategies LLC purchased a new position in Amalgamated Financial during the fourth quarter worth $2,778,000. Charles Schwab Investment Management Inc. boosted its stake in Amalgamated Financial by 49.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company’s stock worth $8,118,000 after buying an additional 80,484 shares during the period. Finally, Barclays PLC increased its position in Amalgamated Financial by 60.2% during the fourth quarter. Barclays PLC now owns 190,861 shares of the company’s stock valued at $6,388,000 after acquiring an additional 71,696 shares during the last quarter. 75.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Amalgamated Financial

In other news, EVP Sean Searby sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.49, for a total value of $97,470.00. Following the sale, the executive vice president now owns 17,639 shares in the company, valued at $573,091.11. This represents a 14.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tyrone Graham sold 3,317 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total value of $101,168.50. Following the completion of the sale, the executive vice president now owns 11,449 shares in the company, valued at approximately $349,194.50. This represents a 22.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,926 shares of company stock worth $243,070. 1.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Amalgamated Financial Stock Down 2.2%

Amalgamated Financial stock opened at $30.91 on Thursday. 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 $945.54 million, a P/E ratio of 8.96 and a beta of 0.86. The business has a fifty day moving average of $28.37 and a two-hundred day moving average of $32.43. Amalgamated Financial Corp. has a twelve month low of $24.02 and a twelve month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, April 24th. The company reported $0.88 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 company had revenue of $79.69 million during the quarter, compared to analysts’ expectations of $74.78 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. On average, analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

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

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.81%. Amalgamated Financial’s dividend payout ratio is currently 16.62%.

Amalgamated Financial Company 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.