LSV Asset Management Buys 22,460 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

LSV Asset Management increased its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,840 shares of the company's stock after purchasing an additional 22,460 shares during the period. LSV Asset Management owned 0.35% of Amalgamated Financial worth $3,643,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AMAL. Neumeier Poma Investment Counsel LLC bought a new stake in Amalgamated Financial during the 4th quarter worth about $13,093,000. Congress Asset Management Co. acquired a new position in Amalgamated Financial in the fourth quarter valued at approximately $5,339,000. JPMorgan Chase & Co. boosted its stake in Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock valued at $17,806,000 after acquiring an additional 89,444 shares during the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in Amalgamated Financial during the 4th quarter worth $2,778,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Amalgamated Financial by 49.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock valued at $8,118,000 after acquiring an additional 80,484 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler downgraded Amalgamated Financial from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total value of $616,860.00. Following the sale, the insider now owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tyrone Graham sold 869 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now directly owns 10,580 shares of the company's stock, valued at $314,543.40. This represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,656 shares of company stock valued at $1,054,122. Company insiders own 0.90% of the company's stock.

Amalgamated Financial Trading Up 0.7 %

Shares of NASDAQ AMAL traded up $0.19 during midday trading on Friday, reaching $26.72. 144,607 shares of the stock were exchanged, compared to its average volume of 183,986. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 12 month low of $21.33 and a 12 month high of $38.19. The business has a 50-day simple moving average of $30.08 and a two-hundred day simple moving average of $32.91. The company has a market capitalization of $819.96 million, a price-to-earnings ratio of 7.74 and a beta of 0.75.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. As a group, equities research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a $0.14 dividend. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 2.10%. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial's payout ratio is currently 16.23%.

Amalgamated Financial declared that its board has authorized a share repurchase plan on Monday, March 10th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.