Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Acquired by Barclays PLC

Barclays PLC increased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 60.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,861 shares of the company's stock after purchasing an additional 71,696 shares during the quarter. Barclays PLC owned approximately 0.62% of Amalgamated Financial worth $6,388,000 as of its most recent SEC filing.

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

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded up $0.37 during trading on Tuesday, reaching $28.62. 83,782 shares of the company's stock traded hands, compared to its average volume of 185,293. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a fifty-two week low of $24.02 and a fifty-two week high of $38.19. The company has a 50-day simple moving average of $28.83 and a 200-day simple moving average of $32.76. The firm has a market cap of $878.29 million, a PE ratio of 8.29 and a beta of 0.75.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.88 EPS for the quarter, meeting analysts' consensus estimates of $0.88. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The business had revenue of $79.69 million during the quarter, compared to analysts' expectations of $74.78 million. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, May 6th. Amalgamated Financial's payout ratio is 16.62%.

Amalgamated Financial declared that its Board of Directors has authorized a stock buyback program on Monday, March 10th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on AMAL. Piper Sandler lowered 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. Keefe, Bruyette & Woods cut their target price on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Friday.

Insider Activity

In other news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total value of $616,860.00. Following the sale, the insider now directly owns 7,167,816 shares of the company's stock, valued at $245,641,054.32. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sean Searby sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the transaction, the executive vice president now directly owns 17,639 shares of the company's stock, valued at approximately $573,091.11. This represents a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,253 shares of company stock worth $905,433 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Amalgamated Financial Company 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.