Cubist Systematic Strategies LLC Raises Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Cubist Systematic Strategies LLC raised its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 140.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,395 shares of the company's stock after buying an additional 69,079 shares during the period. Cubist Systematic Strategies LLC owned about 0.39% of Amalgamated Financial worth $3,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in Amalgamated Financial in the fourth quarter valued at approximately $34,000. R Squared Ltd purchased a new position in shares of Amalgamated Financial during the fourth quarter worth about $38,000. New York State Teachers Retirement System purchased a new position in shares of Amalgamated Financial during the fourth quarter worth about $55,000. KLP Kapitalforvaltning AS purchased a new position in shares of Amalgamated Financial during the fourth quarter worth about $90,000. Finally, US Bancorp DE grew its holdings in shares of Amalgamated Financial by 28.1% during the fourth quarter. US Bancorp DE now owns 2,962 shares of the company's stock worth $99,000 after buying an additional 650 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Piper Sandler lowered 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.

Amalgamated Financial Stock Performance

AMAL remained flat at $30.91 during trading on Thursday. The company's stock had a trading volume of 43,174 shares, compared to its average volume of 187,115. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a 50-day moving average of $28.37 and a two-hundred day moving average of $32.43. Amalgamated Financial Corp. has a 12 month low of $24.02 and a 12 month high of $38.19. The company has a market capitalization of $945.54 million, a P/E ratio of 8.96 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The company had revenue of $79.69 million for the quarter, compared to analysts' expectations of $74.78 million. During the same quarter in the previous year, the firm posted $0.89 EPS. Equities analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, May 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is presently 16.62%.

Amalgamated Financial announced that its Board of Directors has approved a stock buyback program on Monday, March 10th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Tyrone Graham sold 3,317 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total transaction of $101,168.50. Following the transaction, the executive vice president now owns 11,449 shares of the company's stock, valued at $349,194.50. This represents a 22.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sean Searby sold 3,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 17,639 shares in the company, valued at $573,091.11. This represents a 14.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,926 shares of company stock valued at $243,070 over the last quarter. Company insiders own 1.29% of the company's stock.

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.