Counterpoint Mutual Funds LLC Takes $301,000 Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Counterpoint Mutual Funds LLC acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,994 shares of the company's stock, valued at approximately $301,000.

Several other large investors have also made changes to their positions in AMAL. Congress Asset Management Co. acquired a new position in shares of Amalgamated Financial during the 4th quarter worth about $5,339,000. Charles Schwab Investment Management Inc. lifted its position in shares of Amalgamated Financial by 219.7% during 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. increased its stake in Amalgamated Financial by 18.7% during the third 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 during the period. Figure 8 Investment Strategies LLC bought a new position in Amalgamated Financial during the fourth quarter valued at about $2,778,000. Finally, Raymond James Financial Inc. bought a new position in Amalgamated Financial during the fourth quarter valued at about $2,244,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Amalgamated Financial Price Performance

Shares of AMAL stock traded down $0.19 during trading hours on Friday, hitting $29.15. The company had a trading volume of 656,805 shares, compared to its average volume of 169,514. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19. The firm has a market capitalization of $894.53 million, a price-to-earnings ratio of 8.45 and a beta of 0.93. The firm's fifty day moving average is $33.22 and its 200 day moving average is $33.47. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

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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, 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%. On average, sell-side analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued 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 1.92%. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial's payout ratio is presently 16.23%.

Amalgamated Financial declared that its board has authorized a share 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 reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently 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 research note on Wednesday, December 4th. Piper Sandler lowered Amalgamated Financial from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $38.00 in a research note on Friday, February 21st.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Tyrone Graham sold 869 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now owns 10,580 shares of the company's stock, valued at approximately $314,543.40. This represents a 7.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the company's 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 approximately $618,632.63. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,916 shares of company stock valued at $1,035,526 in the last three months. 0.90% of the stock is owned by corporate insiders.

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.