Amalgamated Financial Corp. (NASDAQ:AMAL) Stake Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 40.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,791 shares of the company's stock after acquiring an additional 14,329 shares during the period. Teacher Retirement System of Texas owned 0.16% of Amalgamated Financial worth $1,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMAL. USA Financial Formulas bought a new stake in Amalgamated Financial in the fourth quarter valued at about $34,000. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the 4th quarter valued at approximately $38,000. New York State Teachers Retirement System acquired a new stake in shares of Amalgamated Financial during the 4th quarter valued at approximately $55,000. US Bancorp DE lifted its stake in 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 position in Amalgamated Financial in the fourth quarter worth $210,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Amalgamated Financial Stock Performance

NASDAQ AMAL traded up $0.05 during trading hours on Monday, hitting $28.75. The company had a trading volume of 187,503 shares, compared to its average volume of 174,519. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a market cap of $882.25 million, a P/E ratio of 8.33 and a beta of 0.93. Amalgamated Financial Corp. has a fifty-two week low of $21.33 and a fifty-two week high of $38.19. The business has a fifty day simple moving average of $32.53 and a 200-day simple moving average of $33.44.

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Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released 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 net margin of 24.50% and a return on equity of 16.49%. Equities analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, February 11th. 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 1.95%. Amalgamated Financial's payout ratio is currently 16.23%.

Amalgamated Financial announced that its board has authorized a share repurchase program on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

AMAL has been the topic of a number of research reports. Piper Sandler cut 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 report on Friday, February 21st. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 3,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.49, for a total transaction of $97,470.00. Following the sale, the executive vice president now directly owns 17,639 shares in the company, valued at approximately $573,091.11. The trade was a 14.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 18,319 shares of the company's stock, 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. 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.