SG Americas Securities LLC Buys 3,453 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in AMAL. Dimensional Fund Advisors LP boosted its position in 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 buying an additional 31,647 shares during the period. American Century Companies Inc. boosted its position in 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 buying an additional 17,410 shares during the period. Geode Capital Management LLC boosted its position in 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 buying an additional 1,958 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new stake in Amalgamated Financial during the 4th quarter worth approximately $13,093,000. Finally, Bridgeway Capital Management LLC boosted its position in 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 buying an additional 68,381 shares during the period. 75.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler cut shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a research report on Friday, February 21st. Keefe, Bruyette & Woods cut their price target on shares of Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th.

View Our Latest Analysis on Amalgamated Financial

Amalgamated Financial Trading Up 0.4%

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

Amalgamated Financial (NASDAQ:AMALGet Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. The company had revenue of $79.69 million for the quarter, compared to analysts’ expectations of $74.78 million. Amalgamated Financial had a return on equity of 15.68% and a net margin of 23.99%. During the same period last year, the firm earned $0.89 earnings per share. Research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

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

Amalgamated Financial declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Amalgamated Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amalgamated Financial (NASDAQ:AMAL)

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