Amalgamated Financial Corp. (NASDAQ:AMAL) Stake Raised by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC grew its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,110 shares of the company's stock after purchasing an additional 11,735 shares during the quarter. Segall Bryant & Hamill LLC owned 0.21% of Amalgamated Financial worth $2,112,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. State Street Corp raised its stake in shares of Amalgamated Financial by 4.9% during the third quarter. State Street Corp now owns 704,868 shares of the company's stock valued at $22,112,000 after purchasing an additional 33,095 shares during the period. JPMorgan Chase & Co. grew its stake in shares of 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 in the last quarter. American Century Companies Inc. increased its position in shares of Amalgamated Financial by 3.6% during the fourth quarter. American Century Companies Inc. now owns 502,848 shares of the company's stock worth $16,830,000 after acquiring an additional 17,410 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Amalgamated Financial by 7.7% in the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company's stock worth $15,026,000 after acquiring an additional 34,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Amalgamated Financial by 49.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock valued at $8,118,000 after purchasing an additional 80,484 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler downgraded Amalgamated Financial from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $42.00 to $38.00 in a report on Friday, February 21st. Keefe, Bruyette & Woods upped their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th.

Amalgamated Financial Stock Down 0.2 %

NASDAQ AMAL traded down $0.05 on Tuesday, hitting $28.70. 205,689 shares of the stock traded hands, compared to its average volume of 174,618. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $32.37 and a 200 day moving average of $33.42. Amalgamated Financial Corp. has a twelve month low of $21.33 and a twelve month high of $38.19. The company has a market capitalization of $880.72 million, a P/E ratio of 8.32 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings results 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, analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.14 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 1.95%. Amalgamated Financial's payout ratio is 16.23%.

Amalgamated Financial declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Activity at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 18,000 shares of the firm's 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 owns 7,167,816 shares of the company's stock, valued at approximately $245,641,054.32. This trade represents a 0.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,916 shares of company stock valued at $1,035,526 in the last quarter. Insiders own 0.90% of the company's stock.

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.