Tudor Investment Corp ET AL Lowers Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Tudor Investment Corp ET AL decreased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 35.4% during the fourth quarter, HoldingsChannel reports. The firm owned 17,025 shares of the company’s stock after selling 9,343 shares during the period. Tudor Investment Corp ET AL’s holdings in Amalgamated Financial were worth $570,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMAL. USA Financial Formulas bought a new position in Amalgamated Financial in the fourth quarter worth about $34,000. R Squared Ltd acquired a new stake in Amalgamated Financial in the fourth quarter valued at approximately $38,000. New York State Teachers Retirement System acquired a new stake in Amalgamated Financial in the fourth quarter valued at approximately $55,000. KLP Kapitalforvaltning AS acquired a new stake in Amalgamated Financial in the fourth quarter valued at approximately $90,000. Finally, US Bancorp DE grew its holdings in Amalgamated Financial by 28.1% in the fourth quarter. US Bancorp DE now owns 2,962 shares of the company’s stock worth $99,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Trading Up 3.7 %

NASDAQ AMAL opened at $30.38 on Friday. Amalgamated Financial Corp. has a 12-month low of $24.02 and a 12-month high of $38.19. The company has a fifty day simple moving average of $28.29 and a two-hundred day simple moving average of $32.50. 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 cap of $932.27 million, a P/E ratio of 8.81 and a beta of 0.86.

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

Amalgamated Financial declared that its board has authorized a stock repurchase plan on Monday, March 10th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Amalgamated Financial Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.84%. Amalgamated Financial’s dividend payout ratio is currently 16.62%.

Insider Buying and Selling

In other Amalgamated Financial news, EVP Sean Searby sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the sale, the executive vice president now directly owns 17,639 shares of the company’s stock, valued at approximately $573,091.11. This trade represents a 14.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tyrone Graham sold 869 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.73, for a total value of $25,835.37. Following the completion of the transaction, the executive vice president now directly owns 10,580 shares of the company’s stock, valued at approximately $314,543.40. This trade represents a 7.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,926 shares of company stock worth $243,070. 1.29% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.