American Century Companies Inc. Acquires 26,041 Shares of Amalgamated Financial Corp. $AMAL

American Century Companies Inc. increased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 552,182 shares of the company’s stock after acquiring an additional 26,041 shares during the period. American Century Companies Inc. owned about 1.83% of Amalgamated Financial worth $17,228,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMAL. Rhumbline Advisers lifted its stake in Amalgamated Financial by 27.9% during the second quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock worth $1,106,000 after purchasing an additional 7,741 shares during the period. Legal & General Group Plc raised its holdings in shares of Amalgamated Financial by 11.6% in the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock worth $670,000 after buying an additional 2,231 shares in the last quarter. Swiss National Bank lifted its position in shares of Amalgamated Financial by 6.7% during the 2nd quarter. Swiss National Bank now owns 38,100 shares of the company’s stock worth $1,189,000 after buying an additional 2,400 shares during the period. Seizert Capital Partners LLC lifted its position in shares of Amalgamated Financial by 2.3% during the 2nd quarter. Seizert Capital Partners LLC now owns 114,825 shares of the company’s stock worth $3,583,000 after buying an additional 2,550 shares during the period. Finally, EMC Capital Management acquired a new stake in Amalgamated Financial in the 2nd quarter valued at $100,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insiders Place Their Bets

In other Amalgamated Financial news, Director Edgar Romney sold 6,697 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.34, for a total transaction of $183,095.98. Following the transaction, the director owned 16,763 shares in the company, valued at approximately $458,300.42. This trade represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynne P. Fox sold 8,949 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $27.34, for a total value of $244,665.66. Following the completion of the sale, the director directly owned 22,276 shares of the company’s stock, valued at approximately $609,025.84. This trade represents a 28.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,343 shares of company stock worth $610,858. Insiders own 1.29% of the company’s stock.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $30.10 on Wednesday. The firm’s 50 day moving average price is $27.69 and its two-hundred day moving average price is $29.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 52-week low of $25.03 and a 52-week high of $37.26. The stock has a market cap of $901.19 million, a PE ratio of 9.07 and a beta of 0.84.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Monday, December 19th. The company reported $0.46 EPS for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.75%. The company had revenue of $49.68 million during the quarter. As a group, analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.56 annualized dividend and a yield of 1.9%. Amalgamated Financial’s dividend payout ratio is presently 16.87%.

Analyst Ratings Changes

Several research analysts have issued reports on AMAL shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amalgamated Financial in a research note on Monday. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $27.00 to $28.00 in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Amalgamated Financial currently has a consensus rating of “Hold” and a consensus target price of $33.50.

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.