Wealth Enhancement Advisory Services LLC Makes New $227,000 Investment in Amalgamated Financial Corp. (NASDAQ:AMAL)

Wealth Enhancement Advisory Services LLC acquired a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,797 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds also recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $41,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $2,137,000. Jefferies Financial Group Inc. bought a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $1,841,000. Mackenzie Financial Corp bought a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $512,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $234,000. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Trading Down 0.5%

Shares of AMAL opened at $30.09 on Tuesday. The stock has a fifty day moving average price of $29.22 and a two-hundred day moving average price of $31.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. Amalgamated Financial Corp. has a 52-week low of $24.19 and a 52-week high of $38.19. The company has a market cap of $920.45 million, a price-to-earnings ratio of 8.72 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $74.78 million. During the same quarter in the previous year, the company posted $0.89 EPS. Analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial declared that its Board of Directors has initiated a stock buyback plan on Monday, March 10th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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 given a $0.14 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.56 annualized dividend and a yield of 1.86%. Amalgamated Financial’s payout ratio is 16.62%.

Analyst Ratings Changes

Several research firms recently commented on AMAL. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods cut 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.

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.