American Century Companies Inc. Has $16.83 Million Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

American Century Companies Inc. boosted its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 502,848 shares of the company’s stock after buying an additional 17,410 shares during the quarter. American Century Companies Inc.’s holdings in Amalgamated Financial were worth $16,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AMAL. USA Financial Formulas bought a new position in Amalgamated Financial in the fourth quarter worth $34,000. R Squared Ltd bought a new position in shares of Amalgamated Financial during the 4th quarter worth about $38,000. New York State Teachers Retirement System acquired a new stake in shares of Amalgamated Financial during the 4th quarter valued at about $55,000. US Bancorp DE increased its stake in Amalgamated Financial by 28.1% in the fourth quarter. US Bancorp DE now owns 2,962 shares of the company’s stock valued at $99,000 after acquiring an additional 650 shares during the period. Finally, Midwest Professional Planners LTD. acquired a new position in Amalgamated Financial in the fourth quarter worth about $210,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Tyrone Graham sold 869 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now directly owns 10,580 shares in the company, valued at approximately $314,543.40. This represents a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction 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 represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,916 shares of company stock worth $1,035,526 over the last 90 days. 0.90% of the stock is owned by insiders.

Amalgamated Financial Stock Up 0.2 %

Shares of NASDAQ AMAL opened at $28.75 on Tuesday. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The firm’s 50-day simple moving average is $32.53 and its 200 day simple moving average is $33.44. 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 company has a market cap of $882.25 million, a price-to-earnings ratio of 8.33 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. On average, research analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial announced that its Board of Directors has approved a share repurchase program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a $0.14 dividend. 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 1.95%. The ex-dividend date of this dividend was Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio (DPR) is 16.23%.

Analyst Ratings Changes

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

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.