Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 16.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,832 shares of the company’s stock after purchasing an additional 3,453 shares during the period. SG Americas Securities LLC owned 0.08% of Amalgamated Financial worth $714,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Amalgamated Financial by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,219,094 shares of the company’s stock worth $40,803,000 after purchasing an additional 31,647 shares during the period. American Century Companies Inc. lifted its stake in shares of Amalgamated Financial by 3.6% during the 4th quarter. American Century Companies Inc. now owns 502,848 shares of the company’s stock worth $16,830,000 after purchasing an additional 17,410 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amalgamated Financial by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 480,846 shares of the company’s stock worth $16,098,000 after purchasing an additional 1,958 shares during the period. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Amalgamated Financial during the 4th quarter worth $13,093,000. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Amalgamated Financial by 26.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 322,833 shares of the company’s stock worth $10,805,000 after purchasing an additional 68,381 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMAL. Keefe, Bruyette & Woods dropped their price objective on 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 Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Amalgamated Financial Trading Up 0.4%

Amalgamated Financial stock opened at $30.00 on Friday. Amalgamated Financial Corp. has a 1 year low of $24.74 and a 1 year high of $38.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $917.70 million, a price-to-earnings ratio of 8.90 and a beta of 0.86. The firm’s 50 day moving average price is $29.47 and its two-hundred day moving average price is $31.47.

Amalgamated Financial (NASDAQ:AMAL) last released 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. The business had revenue of $79.69 million during the quarter, compared to analyst estimates of $74.78 million. Amalgamated Financial had a net margin of 23.99% and a return on equity of 15.68%. During the same quarter in the previous year, the business earned $0.89 EPS. On average, research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.62%.

Amalgamated Financial announced that its Board of Directors has initiated a stock buyback program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership 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.