Price T Rowe Associates Inc. MD Has $3.65 Million Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Price T Rowe Associates Inc. MD grew its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 41.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,882 shares of the company’s stock after purchasing an additional 31,923 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.36% of Amalgamated Financial worth $3,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AMAL. Hsbc Holdings PLC boosted its stake in Amalgamated Financial by 123.5% during the fourth quarter. Hsbc Holdings PLC now owns 23,225 shares of the company’s stock worth $775,000 after acquiring an additional 12,832 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Amalgamated Financial during the 4th quarter worth about $619,000. State of Tennessee Department of Treasury grew its stake in shares of Amalgamated Financial by 27.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 13,000 shares of the company’s stock valued at $435,000 after buying an additional 2,813 shares during the period. Tower Research Capital LLC TRC increased its position in Amalgamated Financial by 57.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,217 shares of the company’s stock valued at $242,000 after buying an additional 2,645 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Amalgamated Financial by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company’s stock worth $40,803,000 after buying an additional 31,647 shares during the period. Institutional investors own 75.93% of the company’s stock.

Insider Buying and Selling at Amalgamated Financial

In other 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 $244,196,440.74. This represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tyrone Graham sold 3,317 shares of Amalgamated Financial stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total value of $101,168.50. Following the completion of the sale, the executive vice president now directly owns 11,449 shares of the company’s stock, valued at approximately $349,194.50. This trade represents a 22.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,253 shares of company stock worth $288,573 over the last three months. 1.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMAL has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Piper Sandler downgraded shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $38.00 in a report on Friday, February 21st.

Amalgamated Financial Stock Performance

Shares of AMAL opened at $29.57 on Tuesday. The stock has a 50 day moving average of $28.44 and a 200 day moving average of $32.57. The company has a market capitalization of $907.41 million, a price-to-earnings ratio of 8.57 and a beta of 0.86. Amalgamated Financial Corp. has a 12 month low of $24.02 and a 12 month high of $38.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. The firm had revenue of $79.69 million during the quarter, compared to analyst estimates of $74.78 million. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. During the same period last year, the firm posted $0.89 EPS. As a group, sell-side 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 authorized a stock buyback plan on Monday, March 10th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, May 6th. Amalgamated Financial’s dividend payout ratio is 16.62%.

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.