Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,848 shares of the company's stock after buying an additional 17,410 shares during the period. American Century Companies Inc. owned about 1.64% of Amalgamated Financial worth $16,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its holdings in Amalgamated Financial by 212.8% during the fourth quarter. Quantbot Technologies LP now owns 23,768 shares of the company's stock valued at $796,000 after purchasing an additional 16,169 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Amalgamated Financial by 40.4% during the 4th quarter. Teacher Retirement System of Texas now owns 49,791 shares of the company's stock worth $1,667,000 after purchasing an additional 14,329 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Amalgamated Financial in the 4th quarter worth about $282,000. Thrivent Financial for Lutherans increased its stake in Amalgamated Financial by 86.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 86,738 shares of the company's stock worth $2,903,000 after buying an additional 40,318 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Amalgamated Financial during the 4th quarter worth approximately $301,000. Institutional investors and hedge funds own 75.93% of the company's stock.

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Amalgamated Financial Price Performance

NASDAQ AMAL traded down $1.00 during trading hours on Friday, hitting $26.12. 124,282 shares of the company's stock traded hands, compared to its average volume of 175,678. The company has a market capitalization of $801.54 million, a PE ratio of 7.58 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 52-week low of $21.33 and a 52-week high of $38.19. The firm's 50-day moving average is $32.06 and its 200-day moving average is $33.35.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping 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%. Equities analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial declared that its board has approved a stock buyback plan on Monday, March 10th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 2.14%. Amalgamated Financial's dividend payout ratio is currently 16.23%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered Amalgamated Financial from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $38.00 in a research note on Friday, February 21st.

Insider Buying and Selling

In other news, Director Maryann Bruce sold 4,403 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total value of $148,689.31. Following the sale, the director now directly owns 18,319 shares of the company's stock, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sean Searby sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the transaction, the executive vice president now directly owns 17,639 shares of the company's stock, valued at $573,091.11. The trade was a 14.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,916 shares of company stock worth $1,035,526. Company 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.