Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,683 shares of the company's stock after selling 30,933 shares during the quarter. Millennium Management LLC owned 0.77% of Amalgamated Financial worth $7,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Amalgamated Financial by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,186 shares of the company's stock valued at $341,000 after buying an additional 372 shares in the last quarter. Sterling Capital Management LLC increased its position in Amalgamated Financial by 4.0% during the 4th quarter. Sterling Capital Management LLC now owns 13,175 shares of the company's stock valued at $441,000 after purchasing an additional 512 shares during the period. US Bancorp DE increased its position in Amalgamated Financial by 28.1% during the 4th quarter. US Bancorp DE now owns 2,962 shares of the company's stock valued at $99,000 after purchasing an additional 650 shares during the period. Corton Capital Inc. increased its position in Amalgamated Financial by 12.3% during the 4th quarter. Corton Capital Inc. now owns 7,596 shares of the company's stock valued at $254,000 after purchasing an additional 831 shares during the period. Finally, Aquatic Capital Management LLC increased its position in Amalgamated Financial by 8.5% during the 4th quarter. Aquatic Capital Management LLC now owns 11,282 shares of the company's stock valued at $378,000 after purchasing an additional 882 shares during the period. Institutional investors own 75.93% of the company's stock.

Amalgamated Financial Stock Performance

AMAL stock traded up $0.06 during trading on Friday, reaching $30.36. The company had a trading volume of 171,406 shares, compared to its average volume of 191,200. The firm has a 50-day simple moving average of $28.63 and a 200-day simple moving average of $32.03. The company has a market cap of $928.71 million, a price-to-earnings ratio of 8.80 and a beta of 0.86. 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 Corp. has a twelve month low of $24.02 and a twelve month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.88 EPS for the quarter, hitting analysts' consensus estimates of $0.88. The company had revenue of $79.69 million during the quarter, compared to analysts' expectations 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 last year, the business earned $0.89 EPS. As a group, sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial announced that its Board of Directors has approved a stock repurchase plan on Monday, March 10th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Amalgamated Financial Announces Dividend

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

Insider Buying and Selling

In other Amalgamated Financial news, EVP Sean Searby sold 3,000 shares of Amalgamated Financial 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 sale, the executive vice president now directly owns 17,639 shares in the company, valued at approximately $573,091.11. The trade was a 14.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the sale, the executive vice president now owns 10,580 shares of the company's stock, valued at approximately $314,543.40. The trade was a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,926 shares of company stock worth $243,070 in the last three months. Corporate insiders own 1.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMAL. Keefe, Bruyette & Woods cut their price objective on shares of 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 downgraded shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $38.00 in a research report 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.