BNP Paribas Financial Markets Buys Shares of 41,886 Amalgamated Financial Corp. (NASDAQ:AMAL)

BNP Paribas Financial Markets acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 quarter.

Several other institutional investors also recently modified their holdings of AMAL. R Squared Ltd acquired a new stake in Amalgamated Financial in the 4th quarter valued at $38,000. New York State Teachers Retirement System acquired a new stake in Amalgamated Financial in the 4th quarter valued at $55,000. KLP Kapitalforvaltning AS acquired a new stake in Amalgamated Financial in the 4th quarter valued at $90,000. US Bancorp DE boosted its stake in Amalgamated Financial by 28.1% in the 4th quarter. US Bancorp DE now owns 2,962 shares of the company's stock valued at $99,000 after buying an additional 650 shares in the last quarter. Finally, Midwest Professional Planners LTD. acquired a new stake in Amalgamated Financial in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMAL. Piper Sandler lowered 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 note on Friday, February 21st. Keefe, Bruyette & Woods reduced their price objective on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th.

Insider Transactions at Amalgamated Financial

In other news, EVP Sean Searby sold 3,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the completion of the sale, the executive vice president now owns 17,639 shares in the company, valued at $573,091.11. The trade was a 14.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tyrone Graham sold 869 shares of the business's 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 sale, the executive vice president now owns 10,580 shares of the company's stock, valued at approximately $314,543.40. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,926 shares of company stock worth $243,070 over the last 90 days. 1.29% of the stock is owned by insiders.

Amalgamated Financial Price Performance

Amalgamated Financial stock traded down $0.06 on Friday, reaching $29.57. The company's stock had a trading volume of 140,915 shares, compared to its average volume of 190,698. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $904.55 million, a price-to-earnings ratio of 8.57 and a beta of 0.86. The business's fifty day moving average price is $28.56 and its 200 day moving average price is $32.22. Amalgamated Financial Corp. has a twelve month low of $24.02 and a twelve month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.88 EPS for the quarter, hitting analysts' consensus estimates of $0.88. The company had revenue of $79.69 million for the quarter, compared to analyst estimates of $74.78 million. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, May 6th. Amalgamated Financial's dividend payout ratio is currently 16.62%.

Amalgamated Financial announced that its board has authorized 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 reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership 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.