American Century Companies Inc. Raises Stake in Amalgamated Financial Corp. $AMAL

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 position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 526,141 shares of the company's stock after buying an additional 23,293 shares during the quarter. American Century Companies Inc. owned 1.71% of Amalgamated Financial worth $15,127,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Amalgamated Financial by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,255,166 shares of the company's stock worth $36,086,000 after buying an additional 48,803 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Amalgamated Financial by 33.1% in the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company's stock valued at $10,021,000 after purchasing an additional 86,714 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Amalgamated Financial by 26.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 322,833 shares of the company's stock valued at $10,805,000 after purchasing an additional 68,381 shares in the last quarter. Finally, Nia Impact Advisors LLC increased its holdings in shares of Amalgamated Financial by 0.7% in the 4th quarter. Nia Impact Advisors LLC now owns 228,114 shares of the company's stock valued at $7,635,000 after purchasing an additional 1,646 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Amalgamated Financial

In other news, EVP Sean Searby sold 3,512 shares of Amalgamated Financial stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $29.68, for a total transaction of $104,236.16. Following the completion of the sale, the executive vice president directly owned 8,791 shares in the company, valued at $260,916.88. The trade was a 28.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 8,044 shares of company stock worth $239,256 in the last ninety days. Insiders own 1.29% of the company's stock.

Amalgamated Financial Price Performance

NASDAQ AMAL traded down $0.22 during trading hours on Friday, reaching $28.89. The company's stock had a trading volume of 161,596 shares, compared to its average volume of 161,807. The stock has a market cap of $869.88 million, a PE ratio of 8.65 and a beta of 0.89. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $38.19. The company's 50-day moving average is $30.60 and its two-hundred day moving average is $30.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued 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). The business had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

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

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.