Bridgeway Capital Management LLC Has $10.81 Million Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Bridgeway Capital Management LLC raised its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 26.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 322,833 shares of the company’s stock after buying an additional 68,381 shares during the period. Bridgeway Capital Management LLC’s holdings in Amalgamated Financial were worth $10,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Neumeier Poma Investment Counsel LLC acquired a new position in Amalgamated Financial in the 4th quarter valued at about $13,093,000. Congress Asset Management Co. acquired a new position in shares of Amalgamated Financial in the fourth quarter valued at approximately $5,339,000. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 89,444 shares during the last quarter. Figure 8 Investment Strategies LLC bought a new position in shares of Amalgamated Financial during the fourth quarter worth approximately $2,778,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 during the last quarter. 75.93% of the stock is owned by institutional investors.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $573,091.11. The trade was a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tyrone Graham sold 3,317 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were 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 in the company, valued at approximately $349,194.50. This represents a 22.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,926 shares of company stock valued at $243,070. Company insiders own 1.29% of the company’s stock.

Amalgamated Financial Trading Down 0.4 %

Shares of NASDAQ:AMAL opened at $29.45 on Wednesday. The business’s 50 day simple moving average is $28.38 and its 200 day simple moving average is $32.55. Amalgamated Financial Corp. has a 1 year low of $24.02 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 $903.73 million, a P/E ratio of 8.54 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. The company had revenue of $79.69 million for 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 in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

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

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, May 6th. Amalgamated Financial’s payout ratio is presently 16.62%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMAL. Keefe, Bruyette & Woods lowered their price objective on Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Piper Sandler lowered shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $38.00 in a research report on Friday, February 21st.

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.