Stifel Financial Corp Invests $619,000 in Amalgamated Financial Corp. (NASDAQ:AMAL)

Stifel Financial Corp purchased a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,500 shares of the company's stock, valued at approximately $619,000. Stifel Financial Corp owned about 0.06% of Amalgamated Financial as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. USA Financial Formulas purchased a new stake in Amalgamated Financial in the 4th quarter worth $34,000. R Squared Ltd bought a new stake in Amalgamated Financial during the 4th quarter valued at approximately $38,000. New York State Teachers Retirement System purchased a new position in Amalgamated Financial in the 4th quarter worth approximately $55,000. KLP Kapitalforvaltning AS bought a new position in Amalgamated Financial in the 4th quarter worth approximately $90,000. Finally, US Bancorp DE grew its holdings in Amalgamated Financial by 28.1% during 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. 75.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Piper Sandler cut Amalgamated Financial from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $42.00 to $38.00 in a research note on Friday, February 21st.

Insiders Place Their Bets

In other Amalgamated Financial news, EVP Tyrone Graham sold 3,317 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total transaction of $101,168.50. Following the sale, the executive vice president now directly owns 11,449 shares of the company's stock, valued at approximately $349,194.50. This trade represents a 22.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean Searby sold 3,000 shares of Amalgamated Financial stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the transaction, the executive vice president now owns 17,639 shares of the company's stock, valued at $573,091.11. The trade was a 14.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,926 shares of company stock valued at $243,070. 1.29% of the stock is owned by company insiders.

Amalgamated Financial Stock Down 0.3%

NASDAQ AMAL traded down $0.09 on Friday, hitting $30.84. The stock had a trading volume of 34,955 shares, compared to its average volume of 187,172. The business's fifty day moving average price is $28.42 and its 200 day moving average price is $32.40. The stock has a market cap of $943.24 million, a price-to-earnings ratio of 8.93 and a beta of 0.86. 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 52-week low of $24.02 and a 52-week high of $38.19.

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

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, May 6th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.82%. Amalgamated Financial's dividend payout ratio is currently 16.62%.

Amalgamated Financial declared that its board has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase 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.