Price T Rowe Associates Inc. MD Raises Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Price T Rowe Associates Inc. MD lifted its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,882 shares of the company's stock after acquiring an additional 31,923 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.36% of Amalgamated Financial worth $3,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company's stock valued at $3,739,000 after purchasing an additional 57,008 shares during the period. Tidal Investments LLC purchased a new position in shares of Amalgamated Financial in the third quarter valued at about $496,000. JPMorgan Chase & Co. boosted its stake in shares of Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock worth $17,806,000 after acquiring an additional 89,444 shares during the period. USA Financial Formulas purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth about $34,000. Finally, Ballentine Partners LLC raised its stake in Amalgamated Financial by 15.8% during the 4th quarter. Ballentine Partners LLC now owns 16,712 shares of the company's stock valued at $559,000 after purchasing an additional 2,283 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Piper Sandler downgraded shares of 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 related 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tyrone Graham sold 869 shares of the 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 sale, the executive vice president now owns 10,580 shares in the company, 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 three months. 1.29% of the stock is owned by insiders.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL traded up $1.07 during midday trading on Thursday, reaching $30.38. 140,597 shares of the stock traded hands, compared to its average volume of 186,727. The company's 50 day moving average is $28.29 and its 200 day moving average is $32.50. Amalgamated Financial Corp. has a one year low of $24.02 and a one year high of $38.19. 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 stock has a market capitalization of $932.27 million, a PE ratio of 8.81 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued 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 business had revenue of $79.69 million during the quarter, compared to analysts' expectations of $74.78 million. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. During the same period last year, the company posted $0.89 EPS. On average, equities research analysts anticipate 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. Investors of record on Tuesday, May 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.56 annualized dividend and a yield of 1.84%. Amalgamated Financial's payout ratio is presently 16.62%.

Amalgamated Financial declared that its Board of Directors has approved a share buyback program on Monday, March 10th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Amalgamated Financial Company 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.