Jane Street Group LLC Reduces Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Jane Street Group LLC decreased its position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 68.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,361 shares of the company's stock after selling 20,616 shares during the quarter. Jane Street Group LLC's holdings in Amalgamated Financial were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMAL. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $38,000. New York State Teachers Retirement System bought a new stake in Amalgamated Financial in the fourth quarter valued at $55,000. KLP Kapitalforvaltning AS purchased a new position in Amalgamated Financial during the 4th quarter valued at $90,000. US Bancorp DE raised its holdings 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. Finally, Midwest Professional Planners LTD. purchased a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $210,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMAL. Keefe, Bruyette & Woods dropped their price target on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Piper Sandler lowered shares of 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.

Insiders Place Their Bets

In related news, EVP Tyrone Graham sold 869 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.29% of the company's stock.

Amalgamated Financial Stock Performance

Shares of AMAL stock traded up $0.25 during trading hours on Thursday, reaching $29.96. The company had a trading volume of 74,617 shares, compared to its average volume of 190,684. The firm has a market cap of $916.32 million, a PE ratio of 8.69 and a beta of 0.86. The business has a fifty day moving average price of $28.68 and a 200-day moving average price of $31.93. Amalgamated Financial Corp. has a one year low of $24.02 and a one year high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced 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 business had revenue of $79.69 million for the quarter, compared to analysts' expectations of $74.78 million. During the same period last year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were given a $0.14 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.56 annualized dividend and a yield of 1.87%. Amalgamated Financial's payout ratio is presently 16.62%.

Amalgamated Financial declared that its Board of Directors has authorized a share buyback program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.