Amalgamated Financial Corp. $AMAL Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Amalgamated Financial Corp. by 4.6%, owning 526,141 shares valued at approximately $15.1 million.
• Amalgamated Financial reported a quarterly EPS of $0.88, missing estimates, with total revenue of $82.18 million, falling short of analyst expectations.
• The company declared a quarterly dividend of $0.14 per share, translating to a 1.9% yield, with a low payout ratio of 16.77%.

American Century Companies Inc. grew its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 526,141 shares of the company's stock after purchasing an additional 23,293 shares during the period. American Century Companies Inc. owned about 1.71% of Amalgamated Financial worth $15,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allianz Asset Management GmbH grew its position in shares of Amalgamated Financial by 33.1% during the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock worth $10,021,000 after buying an additional 86,714 shares in the last quarter. Mariner LLC bought a new position in shares of Amalgamated Financial during the 4th quarter worth $262,000. BNP Paribas Financial Markets bought a new position in shares of Amalgamated Financial during the 4th quarter worth $1,402,000. Bank of America Corp DE grew its position in shares of Amalgamated Financial by 36.8% during the 4th quarter. Bank of America Corp DE now owns 76,888 shares of the company's stock worth $2,573,000 after buying an additional 20,679 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Amalgamated Financial by 16.2% during the 1st quarter. SG Americas Securities LLC now owns 24,832 shares of the company's stock worth $714,000 after buying an additional 3,453 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

Amalgamated Financial Stock Performance

AMAL stock traded down $0.03 during trading on Wednesday, hitting $29.66. 172,425 shares of the company traded hands, compared to its average volume of 166,436. The company has a market cap of $893.06 million, a PE ratio of 8.88 and a beta of 0.89. Amalgamated Financial Corp. has a 1 year low of $25.03 and a 1 year high of $38.19. The stock's 50-day simple moving average is $30.64 and its 200 day simple moving average is $30.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.02). Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. The business had revenue of $82.18 million during the quarter, compared to analysts' expectations of $82.52 million. On average, equities analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 5th. Amalgamated Financial's payout ratio is presently 16.77%.

Insider Activity at Amalgamated Financial

In related news, EVP Sean Searby sold 4,106 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $29.77, for a total transaction of $122,235.62. Following the completion of the sale, the executive vice president directly owned 12,303 shares in the company, valued at approximately $366,260.31. The trade was a 25.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.29% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their target price for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $33.00.

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.