American Century Companies Inc. Buys 36,851 Shares of Amalgamated Financial Corp. $AMAL

American Century Companies Inc. grew its stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 589,033 shares of the company’s stock after purchasing an additional 36,851 shares during the period. American Century Companies Inc. owned approximately 1.97% of Amalgamated Financial worth $15,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP increased its position in Amalgamated Financial by 616.8% in the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock valued at $4,140,000 after buying an additional 114,171 shares in the last quarter. Geode Capital Management LLC grew its stake in Amalgamated Financial by 20.2% in the second quarter. Geode Capital Management LLC now owns 608,506 shares of the company’s stock valued at $18,988,000 after acquiring an additional 102,166 shares during the period. Bank of America Corp DE grew its stake in Amalgamated Financial by 37.5% in the second quarter. Bank of America Corp DE now owns 148,468 shares of the company’s stock valued at $4,632,000 after acquiring an additional 40,454 shares during the period. Jane Street Group LLC increased its holdings in shares of Amalgamated Financial by 373.1% during the first quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after acquiring an additional 34,923 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Amalgamated Financial by 11.4% during the second quarter. LSV Asset Management now owns 321,758 shares of the company’s stock valued at $10,039,000 after acquiring an additional 32,805 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Stock Up 0.5%

AMAL stock opened at $38.05 on Wednesday. The firm has a market capitalization of $1.14 billion, a PE ratio of 11.16 and a beta of 0.81. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.09. Amalgamated Financial Corp. has a twelve month low of $25.03 and a twelve month high of $42.65. The stock’s 50 day moving average is $37.67 and its 200-day moving average is $31.99.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. Amalgamated Financial had a return on equity of 14.60% and a net margin of 23.05%.The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. Sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd were issued a $0.17 dividend. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, February 3rd. Amalgamated Financial’s dividend payout ratio is currently 19.94%.

Analyst Upgrades and Downgrades

AMAL has been the subject of several research reports. Weiss Ratings raised shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Piper Sandler raised shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $28.00 in a research note on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.50.

Insider Transactions at Amalgamated Financial

In related news, EVP Tyrone Graham sold 2,285 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $39.91, for a total transaction of $91,194.35. Following the transaction, the executive vice president directly owned 13,443 shares of the company’s stock, valued at $536,510.13. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sam D. Brown sold 5,151 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $35.50, for a total transaction of $182,860.50. Following the transaction, the executive vice president owned 53,232 shares in the company, valued at approximately $1,889,736. This trade represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,937 shares of company stock worth $293,534 over the last three months. 1.29% of the stock is owned by insiders.

Amalgamated Financial Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.