Jane Street Group LLC Buys 6,258 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Jane Street Group LLC raised its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 26.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 29,977 shares of the company’s stock after purchasing an additional 6,258 shares during the quarter. Jane Street Group LLC’s holdings in Amalgamated Financial were worth $940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMAL. US Bancorp DE increased its stake in shares of Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after buying an additional 512 shares during the period. CWM LLC boosted its position in Amalgamated Financial by 74.9% during the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after buying an additional 1,034 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Amalgamated Financial in the second quarter valued at about $213,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Amalgamated Financial during the third quarter valued at about $214,000. Institutional investors own 75.93% of the company’s stock.

Insiders Place Their Bets

In other Amalgamated Financial news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the completion of the transaction, the insider now owns 355,893 shares of the company’s stock, valued at approximately $12,214,247.76. This trade represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder States Regional Joint Western sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total value of $352,100.00. Following the completion of the sale, the insider now directly owns 7,185,816 shares in the company, valued at approximately $253,012,581.36. This represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 591,849 shares of company stock worth $21,099,252. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AMAL. Piper Sandler raised their target price on Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Amalgamated Financial Stock Down 0.2 %

Shares of NASDAQ AMAL opened at $33.47 on Wednesday. The firm has a fifty day simple moving average of $34.98 and a two-hundred day simple moving average of $31.85. The firm has a market capitalization of $1.03 billion, a PE ratio of 9.84 and a beta of 0.91. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same period last year, the business posted $0.76 earnings per share. Equities analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $0.12 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.43%. Amalgamated Financial’s payout ratio is 14.12%.

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.