Thrivent Financial for Lutherans Buys 40,318 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Thrivent Financial for Lutherans grew its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 86.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,738 shares of the company's stock after purchasing an additional 40,318 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.28% of Amalgamated Financial worth $2,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in Amalgamated Financial by 4.9% during the third quarter. State Street Corp now owns 704,868 shares of the company's stock valued at $22,112,000 after buying an additional 33,095 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock worth $17,806,000 after acquiring an additional 89,444 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Amalgamated Financial by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company's stock valued at $15,026,000 after acquiring an additional 34,109 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Amalgamated Financial by 49.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock worth $8,118,000 after purchasing an additional 80,484 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new stake in shares of Amalgamated Financial in the 4th quarter worth $5,339,000. Institutional investors own 75.93% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMAL shares. Keefe, Bruyette & Woods boosted their price target on Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler downgraded shares of 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 report on Friday, February 21st.

Amalgamated Financial Price Performance

AMAL traded down $0.73 during trading on Friday, hitting $28.70. 155,646 shares of the company traded hands, compared to its average volume of 174,467. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a market cap of $880.72 million, a PE ratio of 8.32 and a beta of 0.93. The stock's 50-day simple moving average is $32.68 and its two-hundred day simple moving average is $33.45. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year 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, beating 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%. As a group, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.95%. Amalgamated Financial's dividend payout ratio is 16.23%.

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

Insider Transactions at Amalgamated Financial

In related news, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the completion of the transaction, the executive vice president now directly owns 10,580 shares of the company's stock, valued at approximately $314,543.40. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Searby sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the completion of the sale, the executive vice president now directly owns 17,639 shares in the company, valued at $573,091.11. This trade represents a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,916 shares of company stock worth $1,035,526. 0.90% of the stock is currently owned by company insiders.

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.