Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,058 shares of the company’s stock after selling 2,805 shares during the period. Brandywine Global Investment Management LLC owned 0.19% of Amalgamated Financial worth $1,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Neumeier Poma Investment Counsel LLC purchased a new position in Amalgamated Financial in the 4th quarter valued at $13,093,000. Segall Bryant & Hamill LLC boosted its stake in shares of Amalgamated Financial by 22.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 63,110 shares of the company’s stock valued at $2,112,000 after buying an additional 11,735 shares in the last quarter. Prudential Financial Inc. raised its position in Amalgamated Financial by 3.1% in the fourth quarter. Prudential Financial Inc. now owns 188,835 shares of the company’s stock worth $6,320,000 after acquiring an additional 5,600 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Amalgamated Financial during the 4th quarter worth $90,000. Finally, American Century Companies Inc. boosted its holdings in Amalgamated Financial by 3.6% during the fourth quarter. American Century Companies Inc. now owns 502,848 shares of the company’s stock worth $16,830,000 after buying an additional 17,410 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.73, for a total value of $25,835.37. Following the transaction, the executive vice president now directly owns 10,580 shares of the company’s stock, valued at $314,543.40. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder States Regional Joint Western sold 18,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the sale, the insider now directly owns 7,167,816 shares of the company’s stock, valued at approximately $245,641,054.32. This trade represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,916 shares of company stock valued at $1,035,526 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Amalgamated Financial Trading Up 0.9 %

Shares of AMAL opened at $28.97 on Thursday. 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 1-year low of $21.33 and a 1-year high of $38.19. The stock has a market cap of $889.00 million, a price-to-earnings ratio of 8.40 and a beta of 0.93. The firm has a 50 day simple moving average of $32.22 and a 200-day simple moving average of $33.39.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Equities analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial announced that its board has initiated a stock repurchase program on Monday, March 10th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio is currently 16.23%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMAL shares. Keefe, Bruyette & Woods increased their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler downgraded Amalgamated Financial from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st.

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.