American Century Companies Inc. Boosts Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)

American Century Companies Inc. grew its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 502,848 shares of the company's stock after buying an additional 17,410 shares during the period. American Century Companies Inc. owned 1.64% of Amalgamated Financial worth $16,830,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new position in Amalgamated Financial in the 4th quarter valued at about $34,000. R Squared Ltd acquired a new position in shares of Amalgamated Financial in the fourth quarter valued at approximately $38,000. New York State Teachers Retirement System purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth approximately $55,000. US Bancorp DE raised its stake 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 last quarter. Finally, Midwest Professional Planners LTD. acquired a new stake in shares of Amalgamated Financial during the fourth quarter worth $210,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $38.00 in a research note on Friday, February 21st.

Insiders Place Their Bets

In related news, EVP Tyrone Graham sold 869 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.73, for a total value of $25,835.37. Following the sale, the executive vice president now owns 10,580 shares in the company, valued at $314,543.40. This represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the firm'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 completion of the transaction, the director now directly owns 18,319 shares of the company's stock, valued at $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 three months, insiders have sold 30,916 shares of company stock worth $1,035,526. 0.90% of the stock is owned by company insiders.

Amalgamated Financial Stock Performance

NASDAQ AMAL traded down $0.71 on Friday, hitting $26.41. 266,473 shares of the company's stock were exchanged, compared to its average volume of 176,732. 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 firm's 50-day moving average price is $31.88 and its two-hundred day moving average price is $33.32. The firm has a market cap of $810.44 million, a price-to-earnings ratio of 7.66 and a beta of 0.75. Amalgamated Financial Corp. has a fifty-two week low of $21.33 and a fifty-two week high of $38.19.

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, 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%. On average, research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.14 dividend. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. This represents a $0.56 annualized dividend and a dividend yield of 2.12%. Amalgamated Financial's dividend payout ratio (DPR) is 16.23%.

Amalgamated Financial announced that its Board of Directors has approved a share buyback 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 often an indication that the company's management believes its shares are undervalued.

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.