Federated Hermes Inc. Buys 12,182 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Federated Hermes Inc. increased its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,821 shares of the company's stock after buying an additional 12,182 shares during the quarter. Federated Hermes Inc. owned about 0.79% of Amalgamated Financial worth $8,127,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMAL. USA Financial Formulas acquired a new position in shares of Amalgamated Financial during the fourth quarter valued at $34,000. R Squared Ltd acquired a new position in Amalgamated Financial during the 4th quarter valued at about $38,000. New York State Teachers Retirement System bought a new stake in shares of Amalgamated Financial during the 4th quarter worth about $55,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $90,000. Finally, US Bancorp DE boosted its holdings in shares of Amalgamated Financial by 28.1% in the fourth quarter. US Bancorp DE now owns 2,962 shares of the company's stock valued at $99,000 after acquiring an additional 650 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the transaction, the insider now owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. The trade was a 0.25 % 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, EVP Tyrone Graham sold 3,317 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total value of $101,168.50. Following the completion of the sale, the executive vice president now directly owns 11,449 shares of the company's stock, valued at approximately $349,194.50. This represents a 22.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,656 shares of company stock worth $1,054,122 over the last 90 days. 0.90% of the stock is owned by company insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded up $0.08 on Wednesday, reaching $26.35. 18,075 shares of the company traded hands, compared to its average volume of 182,277. The stock has a market capitalization of $808.60 million, a PE ratio of 7.64 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. The company's 50 day moving average is $30.42 and its 200-day moving average is $32.99. 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 earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

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

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a $0.14 dividend. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial's dividend payout ratio (DPR) is 16.23%.

Analyst Upgrades and Downgrades

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

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.