D. E. Shaw & Co. Inc. Sells 56,980 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

D. E. Shaw & Co. Inc. decreased its position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,498 shares of the company's stock after selling 56,980 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Amalgamated Financial were worth $318,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMAL. Barclays PLC raised its holdings in Amalgamated Financial by 91.7% in the 3rd quarter. Barclays PLC now owns 119,165 shares of the company's stock valued at $3,739,000 after acquiring an additional 57,008 shares in the last quarter. SG Americas Securities LLC raised its holdings in Amalgamated Financial by 35.8% in the 4th quarter. SG Americas Securities LLC now owns 21,379 shares of the company's stock valued at $716,000 after acquiring an additional 5,640 shares in the last quarter. R Squared Ltd acquired a new position in Amalgamated Financial in the 4th quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amalgamated Financial in the 4th quarter valued at approximately $469,000. Finally, Figure 8 Investment Strategies LLC acquired a new position in shares of Amalgamated Financial in the 4th quarter worth approximately $2,778,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Amalgamated Financial Price Performance

NASDAQ AMAL traded up $0.34 during trading hours on Thursday, reaching $30.30. 115,389 shares of the company's stock were exchanged, compared to its average volume of 190,695. The stock has a market cap of $926.88 million, a PE ratio of 8.78 and a beta of 0.86. Amalgamated Financial Corp. has a one year low of $24.02 and a one year high of $38.19. The firm has a fifty day moving average of $28.62 and a 200-day moving average of $32.10. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.88 EPS for the quarter, meeting analysts' consensus estimates of $0.88. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The firm had revenue of $79.69 million for the quarter, compared to analyst estimates of $74.78 million. During the same period last year, the company earned $0.89 EPS. On average, equities research analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is 16.62%.

Amalgamated Financial announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

AMAL has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Piper Sandler cut Amalgamated Financial from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $38.00 in a report on Friday, February 21st.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 3,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 17,639 shares in the company, valued at $573,091.11. The trade was a 14.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tyrone Graham sold 869 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now owns 10,580 shares of the company's stock, valued at $314,543.40. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,926 shares of company stock valued at $243,070. 1.29% of the stock is owned by insiders.

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.