LSV Asset Management Buys 22,460 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

LSV Asset Management boosted its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 26.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,840 shares of the company's stock after buying an additional 22,460 shares during the quarter. LSV Asset Management owned about 0.35% of Amalgamated Financial worth $3,643,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new position in Amalgamated Financial in the 4th quarter valued at $34,000. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $38,000. New York State Teachers Retirement System acquired a new stake in Amalgamated Financial during the fourth quarter worth $55,000. KLP Kapitalforvaltning AS bought a new stake in Amalgamated Financial in the fourth quarter valued at about $90,000. Finally, US Bancorp DE grew its stake in shares of Amalgamated Financial by 28.1% in the 4th quarter. US Bancorp DE now owns 2,962 shares of the company's stock valued at $99,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.

Insiders Place Their Bets

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 1,327 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total transaction of $45,502.83. Following the transaction, the insider now owns 7,121,506 shares of the company's stock, valued at approximately $244,196,440.74. This represents a 0.02 % 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, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.73, for a total value of $25,835.37. Following the completion of the sale, the executive vice president now directly owns 10,580 shares of the company's stock, valued at $314,543.40. This trade represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,656 shares of company stock valued at $1,054,122 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded up $0.19 during trading on Friday, reaching $26.72. The stock had a trading volume of 144,607 shares, compared to its average volume of 183,574. The stock has a market capitalization of $819.96 million, a PE ratio of 7.74 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19. The business's 50-day moving average price is $30.08 and its 200 day moving average price is $32.91.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) 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%. As a group, equities analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial announced that its Board of Directors has approved a stock repurchase program 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 programs are generally an indication that the company's board of directors believes its shares are undervalued.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.14 per share. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.56 annualized dividend and a yield of 2.10%. Amalgamated Financial's dividend payout ratio is 16.23%.

Analyst Ratings Changes

Separately, Piper Sandler cut Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $38.00 in a report on Friday, February 21st.

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.