Trexquant Investment LP Boosts Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Trexquant Investment LP increased its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 399.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,816 shares of the company's stock after acquiring an additional 51,029 shares during the period. Trexquant Investment LP owned about 0.21% of Amalgamated Financial worth $2,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Amalgamated Financial by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 480,846 shares of the company's stock valued at $16,098,000 after acquiring an additional 1,958 shares in the last quarter. Neumeier Poma Investment Counsel LLC bought a new stake in Amalgamated Financial in the 4th quarter worth approximately $13,093,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Amalgamated Financial by 22.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 63,110 shares of the company's stock valued at $2,112,000 after buying an additional 11,735 shares during the period. Prudential Financial Inc. boosted its position in Amalgamated Financial by 3.1% in the fourth quarter. Prudential Financial Inc. now owns 188,835 shares of the company's stock worth $6,320,000 after purchasing an additional 5,600 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Amalgamated Financial in the 4th quarter worth approximately $90,000. 75.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Amalgamated Financial Price Performance

Shares of AMAL traded down $0.01 during trading hours on Monday, reaching $25.98. 8,420 shares of the stock traded hands, compared to its average volume of 181,382. Amalgamated Financial Corp. has a 52-week low of $21.33 and a 52-week high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a market cap of $797.28 million, a P/E ratio of 7.53 and a beta of 0.75. The company's 50-day moving average price is $30.78 and its two-hundred day moving average price is $33.07.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Tuesday, February 11th. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. Amalgamated Financial's dividend payout ratio is 16.23%.

Amalgamated Financial announced that its board has approved a share buyback plan on Monday, March 10th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Amalgamated Financial news, Director Maryann Bruce sold 4,403 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 18,319 shares in the company, valued at $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder States Regional Joint Western sold 18,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the completion of the sale, the insider now owns 7,167,816 shares of the company's stock, valued at $245,641,054.32. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,656 shares of company stock worth $1,054,122 over the last 90 days. Corporate insiders own 0.90% of the company's stock.

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.