Charles Schwab Investment Management Inc. Buys 80,484 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Charles Schwab Investment Management Inc. increased its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 49.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,531 shares of the company's stock after purchasing an additional 80,484 shares during the period. Charles Schwab Investment Management Inc. owned 0.79% of Amalgamated Financial worth $8,118,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMAL. USA Financial Formulas purchased a new position in shares of Amalgamated Financial in the fourth quarter valued at about $34,000. R Squared Ltd purchased a new position in Amalgamated Financial in the 4th quarter worth approximately $38,000. New York State Teachers Retirement System purchased a new position in Amalgamated Financial in the 4th quarter worth approximately $55,000. US Bancorp DE boosted its stake in Amalgamated Financial by 28.1% in the 4th 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 period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Amalgamated Financial during the 3rd quarter valued at approximately $214,000. Hedge funds and other institutional investors own 75.93% of the company's stock.

Wall Street Analyst Weigh In

AMAL has been the subject of a number of research reports. Piper Sandler lowered shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th.

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Insider Activity

In other news, EVP Tyrone Graham sold 869 shares of the 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 directly owns 10,580 shares in the company, valued at approximately $314,543.40. This represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the completion of the sale, the director now directly owns 18,319 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders have sold 30,916 shares of company stock valued at $1,035,526. 0.90% of the stock is currently owned by company insiders.

Amalgamated Financial Price Performance

AMAL traded down $0.16 during trading hours on Thursday, hitting $29.43. The company's stock had a trading volume of 149,705 shares, compared to its average volume of 170,002. The stock has a market cap of $903.12 million, a price-to-earnings ratio of 8.53 and a beta of 0.93. The business's 50-day moving average price is $32.94 and its 200-day moving average price is $33.44. 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 - Get Free Report) last posted its earnings results 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 net margin of 24.50% and a return on equity of 16.49%. Sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently disclosed 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 is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a yield of 1.90%. Amalgamated Financial's payout ratio is 16.23%.

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

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.