Neumeier Poma Investment Counsel LLC Invests $13.09 Million in Amalgamated Financial Corp. (NASDAQ:AMAL)

Neumeier Poma Investment Counsel LLC acquired 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 Securities & Exchange Commission. The institutional investor acquired 391,195 shares of the company's stock, valued at approximately $13,093,000. Neumeier Poma Investment Counsel LLC owned approximately 1.28% of Amalgamated Financial as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, major shareholder States Regional Joint Western sold 18,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total transaction of $616,860.00. Following the completion of the sale, the insider now owns 7,167,816 shares of the company's stock, valued at $245,641,054.32. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean Searby sold 3,000 shares of the firm's 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 transaction, the executive vice president now directly owns 17,639 shares in the company, 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. Over the last ninety days, insiders sold 30,916 shares of company stock worth $1,035,526. Company insiders own 0.90% of the company's stock.

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Wall Street Analyst Weigh In

AMAL has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler lowered Amalgamated Financial from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $38.00 in a research note on Friday, February 21st.

Amalgamated Financial Trading Up 0.2 %

NASDAQ AMAL opened at $28.75 on Tuesday. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year 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 company has a market capitalization of $882.25 million, a PE ratio of 8.33 and a beta of 0.93. The company has a fifty day moving average of $32.53 and a 200 day moving average of $33.44.

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 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%. Research analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial announced that its Board of Directors has initiated a stock buyback plan on Monday, March 10th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership 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 paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a yield of 1.95%. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.23%.

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.