Jefferies Financial Group Inc. Makes New $1.84 Million Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Jefferies Financial Group Inc. bought a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,000 shares of the company's stock, valued at approximately $1,841,000. Jefferies Financial Group Inc. owned 0.18% of Amalgamated Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Amalgamated Financial by 4.0% in the 4th quarter. Sterling Capital Management LLC now owns 13,175 shares of the company's stock worth $441,000 after purchasing an additional 512 shares in the last quarter. US Bancorp DE lifted its stake in Amalgamated Financial by 28.1% in the 4th quarter. US Bancorp DE now owns 2,962 shares of the company's stock worth $99,000 after purchasing an additional 650 shares in the last quarter. Corton Capital Inc. grew its holdings in Amalgamated Financial by 12.3% in the 4th quarter. Corton Capital Inc. now owns 7,596 shares of the company's stock valued at $254,000 after buying an additional 831 shares in the last quarter. Aquatic Capital Management LLC increased its position in Amalgamated Financial by 8.5% during the fourth quarter. Aquatic Capital Management LLC now owns 11,282 shares of the company's stock worth $378,000 after purchasing an additional 882 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Amalgamated Financial during the 4th quarter worth approximately $34,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMAL has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of 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 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 note on Friday, February 21st.

Insider Activity

In other news, EVP Tyrone Graham sold 869 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.73, for a total value of $25,835.37. Following the transaction, the executive vice president now owns 10,580 shares in the company, valued at approximately $314,543.40. This represents a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sean Searby sold 3,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $573,091.11. The trade was a 14.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,926 shares of company stock worth $243,070. 1.29% of the stock is currently owned by corporate insiders.

Amalgamated Financial Stock Up 1.2%

AMAL traded up $0.37 during trading hours on Tuesday, hitting $30.86. 16,402 shares of the company's stock were exchanged, compared to its average volume of 187,403. The firm has a market cap of $944.04 million, a P/E ratio of 8.94 and a beta of 0.86. Amalgamated Financial Corp. has a 12-month low of $24.02 and a 12-month high of $38.19. 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 firm has a 50 day moving average of $28.48 and a 200 day moving average of $32.35.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.88 earnings per share (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 business had revenue of $79.69 million during the quarter, compared to analysts' expectations of $74.78 million. During the same quarter last year, the business posted $0.89 EPS. Analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders 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 dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is presently 16.62%.

Amalgamated Financial declared that its board has initiated a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.