Congress Asset Management Co. Acquires New Shares in Amalgamated Financial Corp. (NASDAQ:AMAL)

Congress Asset Management Co. purchased a new position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 159,524 shares of the company's stock, valued at approximately $5,339,000. Congress Asset Management Co. owned about 0.52% of Amalgamated Financial at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AMAL. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock worth $5,083,000 after purchasing an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock valued at $17,806,000 after acquiring an additional 89,444 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new stake in Amalgamated Financial during the 4th quarter valued at $2,778,000. Barclays PLC raised its stake in Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company's stock valued at $3,739,000 after acquiring an additional 57,008 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new stake in Amalgamated Financial during the 3rd quarter valued at $1,781,000. Institutional investors own 75.93% of the company's stock.

Insider Buying and Selling

In related news, Director Maryann Bruce sold 4,403 shares of Amalgamated Financial stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the transaction, the director now directly owns 18,319 shares in the company, valued at $618,632.63. The trade was a 19.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder States Regional Joint Western sold 1,327 shares of Amalgamated Financial stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total value of $45,502.83. Following the completion of the transaction, the insider now owns 7,121,506 shares in the company, valued at $244,196,440.74. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,730 shares of company stock worth $811,052 in the last three months. 0.90% of the stock is currently owned by insiders.

Amalgamated Financial Price Performance

Shares of AMAL traded down $2.73 during midday trading on Friday, reaching $32.56. The stock had a trading volume of 638,141 shares, compared to its average volume of 231,028. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19. 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 firm's 50 day moving average price is $34.60 and its 200-day moving average price is $33.50. The company has a market capitalization of $998.46 million, a P/E ratio of 9.44 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.72%. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. Amalgamated Financial's payout ratio is presently 16.23%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMAL shares. Piper Sandler downgraded Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their target price for the company from $42.00 to $38.00 in a research note on Friday. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th.

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.