Quantbot Technologies LP Boosts Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Quantbot Technologies LP grew its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 212.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,768 shares of the company’s stock after buying an additional 16,169 shares during the period. Quantbot Technologies LP’s holdings in Amalgamated Financial were worth $796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas purchased a new stake in Amalgamated Financial during the fourth quarter valued at about $34,000. R Squared Ltd acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at about $38,000. New York State Teachers Retirement System purchased a new stake in shares of Amalgamated Financial during the 4th quarter worth about $55,000. 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 worth $99,000 after purchasing an additional 650 shares in the last quarter. Finally, Midwest Professional Planners LTD. purchased a new position in Amalgamated Financial in the fourth quarter valued at approximately $210,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Stock Up 0.6 %

NASDAQ AMAL opened at $29.59 on Thursday. The stock has a market cap of $908.03 million, a PE ratio of 8.58 and a beta of 0.93. The business has a 50 day moving average price of $32.94 and a two-hundred day moving average price of $33.44. Amalgamated Financial Corp. has a fifty-two week low of $21.33 and a fifty-two week high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, sell-side analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.14 dividend. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.89%. Amalgamated Financial’s payout ratio is 16.23%.

Amalgamated Financial declared that its board has approved a share buyback program on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

AMAL has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Insider Activity at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 1,327 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $34.29, for a total value of $45,502.83. Following the sale, the insider now directly owns 7,121,506 shares of the company’s stock, valued at $244,196,440.74. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maryann Bruce sold 4,403 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the transaction, the director now directly owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,916 shares of company stock valued at $1,035,526. Insiders own 0.90% of the company’s stock.

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.