Vanguard Group Inc. Sells 91,141 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Vanguard Group Inc. lessened its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,206,363 shares of the company's stock after selling 91,141 shares during the period. Vanguard Group Inc. owned approximately 3.93% of Amalgamated Financial worth $40,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Amalgamated Financial by 4.9% during the 3rd quarter. State Street Corp now owns 704,868 shares of the company's stock worth $22,112,000 after buying an additional 33,095 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 during the period. American Century Companies Inc. boosted its stake in shares of Amalgamated Financial by 3.6% in the 4th quarter. American Century Companies Inc. now owns 502,848 shares of the company's stock valued at $16,830,000 after purchasing an additional 17,410 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Amalgamated Financial by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company's stock worth $15,026,000 after purchasing an additional 34,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amalgamated Financial by 49.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock worth $8,118,000 after purchasing an additional 80,484 shares in the last quarter. Institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $42.00 to $38.00 in a research report on Friday, February 21st.

Insider Activity at Amalgamated Financial

In related news, Director Maryann Bruce sold 4,403 shares of the firm's stock in a transaction dated 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 owns 18,319 shares in the company, valued at $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder States Regional Joint Western sold 18,000 shares of the business's stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 31,656 shares of company stock valued at $1,054,122 over the last quarter. Corporate insiders own 0.90% of the company's stock.

Amalgamated Financial Price Performance

AMAL traded up $0.11 during trading on Thursday, hitting $26.64. The company's stock had a trading volume of 16,296 shares, compared to its average volume of 252,525. The firm's 50 day moving average price is $30.25 and its two-hundred day moving average price is $32.95. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $817.50 million, a price-to-earnings ratio of 7.72 and a beta of 0.75. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.14 per share. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial's dividend payout ratio is 16.23%.

Amalgamated Financial announced that its board has approved a share repurchase program on Monday, March 10th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

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.