Ethic Inc. Takes Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Ethic Inc. bought a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,896 shares of the company's stock, valued at approximately $398,000.

Several other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Amalgamated Financial by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company's stock worth $40,803,000 after acquiring an additional 31,647 shares during the period. American Century Companies Inc. grew its position in shares of 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 purchasing an additional 17,410 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Amalgamated Financial by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 480,846 shares of the company's stock worth $16,098,000 after purchasing an additional 1,958 shares during the period. Neumeier Poma Investment Counsel LLC bought a new position in shares of Amalgamated Financial in the fourth quarter worth about $13,093,000. Finally, Bridgeway Capital Management LLC lifted its position in shares of 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 purchasing an additional 68,381 shares during the last quarter. 75.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMAL shares. Keefe, Bruyette & Woods lowered their target price on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Piper Sandler cut 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 report on Friday, February 21st.

Insider Buying and Selling

In other news, EVP Tyrone Graham sold 869 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.73, for a total value of $25,835.37. Following the completion of the transaction, the executive vice president now owns 10,580 shares in the company, valued at approximately $314,543.40. This represents a 7.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Searby sold 3,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 7,926 shares of company stock valued at $243,070 over the last ninety days. 1.29% of the stock is owned by company insiders.

Amalgamated Financial Stock Performance

NASDAQ AMAL traded down $0.07 during midday trading on Thursday, hitting $30.27. The company had a trading volume of 22,855 shares, compared to its average volume of 188,954. The firm has a fifty day simple moving average of $28.55 and a two-hundred day simple moving average of $32.33. Amalgamated Financial Corp. has a fifty-two week low of $24.02 and a fifty-two week high of $38.19. 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 stock has a market cap of $925.96 million, a price-to-earnings ratio of 8.74 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $74.78 million. During the same period in the previous year, the company posted $0.89 earnings per share. Equities analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

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 paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.85%. Amalgamated Financial's payout ratio is 16.62%.

Amalgamated Financial declared that its board has initiated a stock 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 stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.