Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 58.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,949 shares of the company's stock after acquiring an additional 54,692 shares during the quarter. AQR Capital Management LLC owned about 0.48% of Amalgamated Financial worth $4,952,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Amalgamated Financial in the 4th quarter valued at about $34,000. R Squared Ltd acquired a new position in shares of Amalgamated Financial during the fourth quarter worth $38,000. New York State Teachers Retirement System purchased a new stake in Amalgamated Financial during the 4th quarter worth about $55,000. KLP Kapitalforvaltning AS acquired a new position in shares of Amalgamated Financial during the 4th quarter worth about $90,000. Finally, US Bancorp DE increased its stake in Amalgamated Financial by 28.1% in the fourth quarter. US Bancorp DE now owns 2,962 shares of the company's stock valued at $99,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Sean Searby sold 3,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.49, for a total transaction of $97,470.00. Following the transaction, the executive vice president now directly owns 17,639 shares of the company's stock, valued at $573,091.11. This represents a 14.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tyrone Graham sold 3,317 shares of the business'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 sale, the executive vice president now directly owns 11,449 shares in the company, valued at $349,194.50. This trade 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. Company insiders own 1.29% of the company's stock.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded down $0.32 during mid-day trading on Wednesday, hitting $31.30. 29,061 shares of the company were exchanged, compared to its average volume of 186,836. The stock has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $32.44. Amalgamated Financial Corp. has a 1-year low of $24.02 and a 1-year high of $38.19. 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 $957.47 million, a price-to-earnings ratio of 9.07 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its earnings results 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 analysts' expectations of $74.78 million. During the same quarter last year, the business earned $0.89 EPS. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

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

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is presently 16.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler cut Amalgamated Financial from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $42.00 to $38.00 in a research note on Friday, February 21st. Keefe, Bruyette & Woods decreased their price target on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a research note on Friday, April 25th.

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.