BNP Paribas Financial Markets Buys New Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

BNP Paribas Financial Markets bought a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,886 shares of the company's stock, valued at approximately $1,402,000. BNP Paribas Financial Markets owned approximately 0.14% of Amalgamated Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in 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 acquiring an additional 512 shares in the last quarter. US Bancorp DE increased its position 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 last quarter. Aquatic Capital Management LLC increased its position in shares of Amalgamated Financial by 8.5% during the fourth quarter. Aquatic Capital Management LLC now owns 11,282 shares of the company's stock valued at $378,000 after acquiring an additional 882 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Amalgamated Financial during the fourth quarter valued at approximately $38,000. Finally, Harrington Investments INC increased its position in shares of Amalgamated Financial by 1.7% during the fourth quarter. Harrington Investments INC now owns 80,510 shares of the company's stock valued at $2,695,000 after acquiring an additional 1,310 shares during the last quarter. Institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of research analyst reports. Piper Sandler downgraded Amalgamated Financial from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods decreased their target price on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a research report on Friday, April 25th.

Insider Activity

In other news, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction on Friday, March 7th. The stock was 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 directly owns 10,580 shares in the company, valued at approximately $314,543.40. The trade was a 7.59% 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. Also, EVP Sean Searby sold 3,000 shares of Amalgamated Financial stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the transaction, the executive vice president now owns 17,639 shares of the company's stock, valued at approximately $573,091.11. This trade represents a 14.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,926 shares of company stock worth $243,070. 1.29% of the stock is owned by corporate insiders.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $30.49 on Tuesday. 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 business has a fifty day simple moving average of $28.48 and a two-hundred day simple moving average of $32.35. Amalgamated Financial Corp. has a 1 year low of $24.02 and a 1 year high of $38.19. The company has a market capitalization of $932.69 million, a P/E ratio of 8.84 and a beta of 0.86.

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

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, May 6th. Amalgamated Financial's dividend payout ratio (DPR) is presently 16.62%.

Amalgamated Financial announced that its board has initiated a stock buyback plan on Monday, March 10th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are 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.

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