Dimensional Fund Advisors LP Raises Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Dimensional Fund Advisors LP increased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219,094 shares of the company's stock after buying an additional 31,647 shares during the quarter. Dimensional Fund Advisors LP owned 3.97% of Amalgamated Financial worth $40,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Sterling Capital Management LLC lifted its stake in shares of Amalgamated Financial by 4.0% in the fourth quarter. Sterling Capital Management LLC now owns 13,175 shares of the company's stock worth $441,000 after buying an additional 512 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Amalgamated Financial by 28.1% during 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. USA Financial Formulas bought a new stake in Amalgamated Financial during the fourth quarter worth about $34,000. R Squared Ltd acquired a new stake in Amalgamated Financial during the 4th quarter valued at $38,000. Finally, Harrington Investments INC raised its holdings in shares of Amalgamated Financial by 1.7% in the fourth quarter. Harrington Investments INC now owns 80,510 shares of the company's stock valued at $2,695,000 after buying an additional 1,310 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMAL. Piper Sandler lowered 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 research report on Friday, February 21st. Keefe, Bruyette & Woods dropped their price target on 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 Price Performance

AMAL stock traded down $0.23 during mid-day trading on Friday, hitting $30.15. The stock had a trading volume of 27,645 shares, compared to its average volume of 186,096. Amalgamated Financial Corp. has a 52 week low of $24.02 and a 52 week high of $38.19. The firm has a fifty day simple moving average of $28.29 and a 200 day simple moving average of $32.50. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $925.21 million, a P/E ratio of 8.74 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced 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 business 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 company earned $0.89 EPS. As a group, research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.62%.

Amalgamated Financial announced that its board has authorized a stock buyback plan on Monday, March 10th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Sean Searby sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total value 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. This trade represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tyrone Graham sold 3,317 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total transaction of $101,168.50. Following the completion of the transaction, the executive vice president now owns 11,449 shares of the company's stock, valued at $349,194.50. This trade represents a 22.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,926 shares of company stock valued at $243,070 in the last three months. Company insiders own 1.29% of the company's stock.

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.