Balyasny Asset Management L.P. Makes New $1.14 Million Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Balyasny Asset Management L.P. acquired a new position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 34,082 shares of the company's stock, valued at approximately $1,141,000. Balyasny Asset Management L.P. owned 0.11% of Amalgamated Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. USA Financial Formulas bought a new stake in shares of Amalgamated Financial in the fourth quarter valued at approximately $34,000. R Squared Ltd purchased a new position in Amalgamated Financial during the fourth quarter valued at approximately $38,000. New York State Teachers Retirement System purchased a new position in Amalgamated Financial during the fourth quarter valued at approximately $55,000. KLP Kapitalforvaltning AS purchased a new position in Amalgamated Financial in the 4th quarter worth approximately $90,000. Finally, US Bancorp DE grew 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 buying an additional 650 shares in the last quarter. Institutional investors own 75.93% of the company's stock.

Insider Transactions at Amalgamated Financial

In other news, EVP Tyrone Graham sold 869 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 10,580 shares in the company, valued at approximately $314,543.40. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now owns 17,639 shares of the company's stock, valued at $573,091.11. This represents a 14.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,926 shares of company stock worth $243,070. 1.29% of the stock is currently owned by insiders.

Amalgamated Financial Price Performance

AMAL stock traded down $0.30 during midday trading on Friday, reaching $30.62. The company had a trading volume of 145,949 shares, compared to its average volume of 188,011. The company has a market capitalization of $936.67 million, a P/E ratio of 8.88 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. Amalgamated Financial Corp. has a 1 year low of $24.02 and a 1 year high of $38.19. The firm has a 50-day moving average price of $28.45 and a 200-day moving average price of $32.38.

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 for the quarter, hitting analysts' consensus estimates of $0.88. The firm had revenue of $79.69 million during the quarter, compared to analyst estimates of $74.78 million. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. During the same period in the previous year, the business posted $0.89 EPS. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial announced that its board has approved a share buyback 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 stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.83%. Amalgamated Financial's payout ratio is 16.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMAL shares. Keefe, Bruyette & Woods cut 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. Piper Sandler cut shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $42.00 to $38.00 in a research note on Friday, February 21st.

Amalgamated Financial 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.