Jefferies Financial Group Inc. Makes New $1.84 Million Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Jefferies Financial Group Inc. bought a new position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 55,000 shares of the company's stock, valued at approximately $1,841,000. Jefferies Financial Group Inc. owned approximately 0.18% of Amalgamated Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMAL. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at about $13,093,000. Congress Asset Management Co. bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at about $5,339,000. Figure 8 Investment Strategies LLC bought a new stake in shares of Amalgamated Financial during the 4th quarter valued at about $2,778,000. Charles Schwab Investment Management Inc. boosted its position in shares of Amalgamated Financial by 49.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock valued at $8,118,000 after purchasing an additional 80,484 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Amalgamated Financial by 60.2% during the 4th quarter. Barclays PLC now owns 190,861 shares of the company's stock valued at $6,388,000 after purchasing an additional 71,696 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMAL shares. Piper Sandler lowered 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 report on Friday, February 21st. Keefe, Bruyette & Woods cut 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.

Insiders Place Their Bets

In other Amalgamated Financial 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sean Searby sold 3,000 shares of Amalgamated Financial stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the transaction, the executive vice president now owns 17,639 shares of the company's stock, valued at approximately $573,091.11. This trade represents a 14.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,926 shares of company stock valued at $243,070 over the last ninety days. 1.29% of the stock is currently owned by insiders.

Amalgamated Financial Stock Up 0.2%

Shares of AMAL stock traded up $0.06 during trading hours on Friday, reaching $30.36. The company had a trading volume of 171,406 shares, compared to its average volume of 191,200. Amalgamated Financial Corp. has a 12 month low of $24.02 and a 12 month high of $38.19. 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 business has a fifty day simple moving average of $28.63 and a 200-day simple moving average of $32.00. The company has a market cap of $928.71 million, a price-to-earnings ratio of 8.80 and a beta of 0.86.

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

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is currently 16.62%.

Amalgamated Financial announced that its board has initiated a stock buyback plan on Monday, March 10th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign 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.