Arrowstreet Capital Limited Partnership Lowers Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Arrowstreet Capital Limited Partnership cut its position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,970 shares of the company's stock after selling 26,694 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.57% of Amalgamated Financial worth $5,823,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Amalgamated Financial by 28.1% during the fourth quarter. US Bancorp DE now owns 2,962 shares of the company's stock worth $99,000 after purchasing an additional 650 shares during the period. USA Financial Formulas bought a new position in Amalgamated Financial during the 4th quarter worth $34,000. R Squared Ltd acquired a new position in Amalgamated Financial during the 4th quarter worth about $38,000. Harrington Investments INC grew its position in shares of Amalgamated Financial by 1.7% in the 4th quarter. Harrington Investments INC now owns 80,510 shares of the company's stock valued at $2,695,000 after buying an additional 1,310 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of Amalgamated Financial in the fourth quarter valued at about $55,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler lowered 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 note on Friday, February 21st.

Insider Transactions at Amalgamated Financial

In related news, EVP Tyrone Graham sold 869 shares of the business's stock in a transaction dated 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. The trade was a 7.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the completion of the transaction, the director now owns 18,319 shares in the company, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,656 shares of company stock valued at $1,054,122 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Amalgamated Financial Trading Down 1.0 %

NASDAQ AMAL traded down $0.25 during mid-day trading on Friday, reaching $25.99. 188,314 shares of the stock were exchanged, compared to its average volume of 181,671. 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 stock has a market cap of $797.56 million, a P/E ratio of 7.53 and a beta of 0.75. The stock has a 50 day simple moving average of $30.78 and a 200-day simple moving average of $33.06. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping 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 EPS for the current year.

Amalgamated Financial Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial's dividend payout ratio is presently 16.23%.

Amalgamated Financial declared that its board has authorized a share repurchase plan on Monday, March 10th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Amalgamated Financial Company 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.