24,019 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. bought a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,019 shares of the company's stock, valued at approximately $804,000. Victory Capital Management Inc. owned approximately 0.08% of Amalgamated Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMAL. FMR LLC increased its holdings in shares of Amalgamated Financial by 198.0% in the 3rd quarter. FMR LLC now owns 35,663 shares of the company's stock worth $1,119,000 after buying an additional 23,697 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Amalgamated Financial in the fourth quarter worth $469,000. JPMorgan Chase & Co. increased its stake in Amalgamated Financial by 18.7% in 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 last quarter. State Street Corp raised its position in 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 in the last quarter. Finally, Tidal Investments LLC bought a new stake in Amalgamated Financial during the third quarter worth about $496,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMAL shares. Piper Sandler cut Amalgamated Financial from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $38.00 in a report on Friday, February 21st. Keefe, Bruyette & Woods lifted their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th.

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Insider Buying and Selling at Amalgamated Financial

In related news, EVP Sean Searby sold 3,000 shares of the business'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 transaction, the executive vice president now owns 17,639 shares in the company, valued at $573,091.11. The trade was a 14.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 18,319 shares of the company's stock, valued at approximately $618,632.63. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,916 shares of company stock valued at $1,035,526 in the last quarter. Company insiders own 0.90% of the company's stock.

Amalgamated Financial Trading Up 1.4 %

Shares of AMAL traded up $0.41 during trading hours on Monday, hitting $29.56. The company had a trading volume of 169,472 shares, compared to its average volume of 169,773. Amalgamated Financial Corp. has a 52-week low of $21.33 and a 52-week high of $38.19. 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's 50 day moving average price is $33.22 and its 200 day moving average price is $33.49. The firm has a market cap of $907.11 million, a P/E ratio of 8.57 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates 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, research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, February 11th. Amalgamated Financial's dividend payout ratio is currently 16.23%.

Amalgamated Financial announced that its Board of Directors has approved a share repurchase program on Monday, March 10th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is 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.