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

Bridgeway Capital Management LLC increased its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 26.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 322,833 shares of the company's stock after acquiring an additional 68,381 shares during the quarter. Bridgeway Capital Management LLC owned approximately 1.05% of Amalgamated Financial worth $10,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter valued at $13,093,000. Congress Asset Management Co. acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at about $5,339,000. JPMorgan Chase & Co. lifted 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 worth $17,806,000 after purchasing an additional 89,444 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in shares of Amalgamated Financial during the fourth quarter worth approximately $2,778,000. Finally, Charles Schwab Investment Management Inc. grew its position in Amalgamated Financial by 49.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock valued at $8,118,000 after purchasing an additional 80,484 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMAL shares. Keefe, Bruyette & Woods decreased their target price on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Piper Sandler downgraded Amalgamated Financial from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $42.00 to $38.00 in a research note on Friday, February 21st.

Amalgamated Financial Stock Down 0.2 %

Shares of AMAL stock traded down $0.06 on Friday, hitting $30.32. The company's stock had a trading volume of 148,246 shares, compared to its average volume of 186,939. The stock has a market capitalization of $930.43 million, a price-to-earnings ratio of 8.79 and a beta of 0.86. Amalgamated Financial Corp. has a fifty-two week low of $24.02 and a fifty-two week high of $38.19. The firm's fifty day moving average price is $28.29 and its 200-day moving average price is $32.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.

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. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The firm had revenue of $79.69 million during the quarter, compared to analyst estimates of $74.78 million. During the same period in the previous year, the company earned $0.89 EPS. Research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, May 6th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.56 annualized dividend and a yield of 1.85%. Amalgamated Financial's dividend payout ratio (DPR) is presently 16.62%.

Amalgamated Financial announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Amalgamated Financial

In other news, 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 sale, the executive vice president now owns 11,449 shares in the company, valued at approximately $349,194.50. This trade represents a 22.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 completion of the sale, the executive vice president now owns 17,639 shares in the company, valued at $573,091.11. This represents a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,926 shares of company stock worth $243,070 over the last ninety days. Company insiders own 1.29% of the company's stock.

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.