Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Purchased by US Bancorp DE

US Bancorp DE raised its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,962 shares of the company’s stock after purchasing an additional 650 shares during the period. US Bancorp DE’s holdings in Amalgamated Financial were worth $99,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMAL. Congress Asset Management Co. acquired a new stake in shares of Amalgamated Financial in the fourth quarter worth $5,339,000. Charles Schwab Investment Management Inc. increased its position in shares of Amalgamated Financial by 219.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after acquiring an additional 111,357 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Amalgamated Financial by 18.7% in 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 in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in shares of Amalgamated Financial in the fourth quarter worth $2,778,000. Finally, Barclays PLC increased its position in shares of Amalgamated Financial by 91.7% in the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after acquiring an additional 57,008 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Price Performance

AMAL opened at $29.14 on Monday. The company has a fifty day simple moving average of $33.60 and a 200 day simple moving average of $33.60. The firm has a market cap of $894.22 million, a price-to-earnings ratio of 8.45 and a beta of 0.93. Amalgamated Financial Corp. has a twelve month low of $21.33 and a twelve month 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.

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%. Equities research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial declared that its board has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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 paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.92%. This is an increase 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 16.23%.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total transaction of $616,860.00. Following the transaction, the insider now directly owns 7,167,816 shares in the company, valued at $245,641,054.32. This represents a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the transaction, the director now owns 18,319 shares in the company, valued at $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,916 shares of company stock worth $1,035,526 in the last ninety days. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMAL. Piper Sandler lowered shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods increased their price objective on shares of 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 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.