Ethic Inc. Takes $398,000 Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Ethic Inc. bought a new position in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,896 shares of the company's stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Amalgamated Financial by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company's stock valued at $40,803,000 after purchasing an additional 31,647 shares during the period. American Century Companies Inc. increased its stake in Amalgamated Financial by 3.6% during the 4th quarter. American Century Companies Inc. now owns 502,848 shares of the company's stock worth $16,830,000 after buying an additional 17,410 shares during the period. Geode Capital Management LLC grew its holdings in Amalgamated Financial by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 480,846 shares of the company's stock worth $16,098,000 after acquiring an additional 1,958 shares in the last quarter. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Amalgamated Financial during the 4th quarter worth approximately $13,093,000. Finally, Bridgeway Capital Management LLC grew its stake in Amalgamated Financial by 26.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 322,833 shares of the company's stock worth $10,805,000 after buying an additional 68,381 shares during the last quarter. Institutional investors own 75.93% of the company's stock.

Insider Buying and Selling

In other news, EVP Sean Searby sold 3,000 shares of Amalgamated Financial 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 completion of the sale, the executive vice president now owns 17,639 shares of the company's stock, 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 the SEC website. Also, EVP Tyrone Graham sold 3,317 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total value of $101,168.50. Following the transaction, the executive vice president now owns 11,449 shares in the company, 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. Over the last ninety days, insiders sold 7,926 shares of company stock valued at $243,070. 1.29% of the stock is owned by insiders.

Amalgamated Financial Stock Performance

NASDAQ AMAL traded up $0.62 on Tuesday, hitting $31.11. 227,949 shares of the company's stock were exchanged, compared to its average volume of 188,220. 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's 50-day moving average price is $28.48 and its two-hundred day moving average price is $32.35. The firm has a market cap of $951.65 million, a price-to-earnings ratio of 9.02 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.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.88. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. The business had revenue of $79.69 million during the quarter, compared to the consensus estimate of $74.78 million. During the same quarter last year, the firm posted $0.89 EPS. On average, research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial announced that its board has approved a share repurchase program on Monday, March 10th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, May 6th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, May 6th. Amalgamated Financial's payout ratio is currently 16.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMAL. 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 report on Friday, April 25th. Piper Sandler cut 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 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.