ExodusPoint Capital Management LP Buys Shares of 14,471 Amalgamated Financial Corp. (NASDAQ:AMAL)

ExodusPoint Capital Management LP acquired a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,471 shares of the company's stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Neumeier Poma Investment Counsel LLC acquired a new stake in Amalgamated Financial in the fourth quarter valued at $13,093,000. Congress Asset Management Co. bought a new position in shares of Amalgamated Financial during the fourth quarter worth about $5,339,000. JPMorgan Chase & Co. raised its position in shares of Amalgamated Financial by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock worth $17,806,000 after acquiring an additional 89,444 shares during the last quarter. Figure 8 Investment Strategies LLC acquired a new position in shares of Amalgamated Financial in the fourth quarter worth approximately $2,778,000. Finally, Charles Schwab Investment Management Inc. increased its position in 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 during the period. 75.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut 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.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the transaction, the insider now owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. This represents a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the company's stock in a transaction 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 sale, the director now directly owns 18,319 shares in the company, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,656 shares of company stock worth $1,054,122. Company insiders own 0.90% of the company's stock.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL traded up $0.19 during mid-day trading on Friday, reaching $26.72. 144,607 shares of the company were exchanged, compared to its average volume of 183,574. The company's 50 day moving average price is $30.08 and its 200 day moving average price is $32.91. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 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. The stock has a market capitalization of $819.96 million, a PE ratio of 7.74 and a beta of 0.75.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 16.49% and a net margin of 24.50%. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal 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 given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.10%. This is a positive change 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 of Directors has initiated a stock repurchase program on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board 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.