Barclays PLC Has $6.39 Million Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Barclays PLC increased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 60.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,861 shares of the company's stock after purchasing an additional 71,696 shares during the quarter. Barclays PLC owned about 0.62% of Amalgamated Financial worth $6,388,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 89,444 shares during the last quarter. American Century Companies Inc. boosted its stake in Amalgamated Financial by 3.6% in the fourth quarter. American Century Companies Inc. now owns 502,848 shares of the company's stock valued at $16,830,000 after acquiring an additional 17,410 shares during the last quarter. Geode Capital Management LLC boosted its stake in Amalgamated Financial by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 480,846 shares of the company's stock valued at $16,098,000 after acquiring an additional 1,958 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in Amalgamated Financial in the fourth quarter valued at approximately $13,093,000. Finally, Federated Hermes Inc. boosted its stake in Amalgamated Financial by 5.3% in the fourth quarter. Federated Hermes Inc. now owns 242,821 shares of the company's stock valued at $8,127,000 after acquiring an additional 12,182 shares during the last quarter. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Trading Down 2.1 %

AMAL traded down $0.60 during mid-day trading on Wednesday, hitting $28.16. The stock had a trading volume of 185,260 shares, compared to its average volume of 185,689. The stock's fifty day simple moving average is $28.61 and its 200-day simple moving average is $32.71. 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 firm has a market capitalization of $864.15 million, a price-to-earnings ratio of 8.16 and a beta of 0.75. Amalgamated Financial Corp. has a 1-year low of $24.02 and a 1-year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.88 earnings per share 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 net margin of 24.50% and a return on equity of 16.49%. During the same period last year, the business posted $0.89 earnings per share. As a group, research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, May 6th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.99%. Amalgamated Financial's payout ratio is 16.62%.

Insider Buying and Selling

In related news, EVP Tyrone Graham sold 869 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the sale, the executive vice president now directly owns 10,580 shares in the company, valued at $314,543.40. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sean Searby sold 3,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the sale, the executive vice president now owns 17,639 shares in the company, valued at approximately $573,091.11. The trade was a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,253 shares of company stock worth $905,433 over the last ninety days. Company insiders own 1.29% of the company's stock.

Analyst Ratings Changes

AMAL has been the topic of a number of recent research reports. Piper Sandler cut shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $42.00 to $38.00 in a research note on Friday, February 21st. Keefe, Bruyette & Woods reduced their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th.

Amalgamated Financial Company 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.