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

American Century Companies Inc. boosted its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 552,182 shares of the company’s stock after purchasing an additional 26,041 shares during the period. American Century Companies Inc.’s holdings in Amalgamated Financial were worth $17,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial during the second quarter worth about $427,000. Nuveen LLC acquired a new position in shares of Amalgamated Financial in the 1st quarter valued at approximately $3,416,000. Assenagon Asset Management S.A. bought a new stake in Amalgamated Financial during the 2nd quarter worth approximately $1,152,000. Vanguard Group Inc. raised its holdings in Amalgamated Financial by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,255,166 shares of the company’s stock worth $36,086,000 after buying an additional 48,803 shares during the period. Finally, Credit Agricole S A raised its holdings in Amalgamated Financial by 31.5% during the 1st quarter. Credit Agricole S A now owns 152,678 shares of the company’s stock worth $4,389,000 after buying an additional 36,613 shares during the period. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Stock Up 0.3%

AMAL stock opened at $30.10 on Wednesday. The company has a market cap of $901.19 million, a price-to-earnings ratio of 9.07 and a beta of 0.84. Amalgamated Financial Corp. has a twelve month low of $25.03 and a twelve month high of $37.26. The business has a 50 day moving average price of $27.69 and a two-hundred day moving average price of $29.25. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10.

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

Amalgamated Financial Announces Dividend

The company also recently declared 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 was Wednesday, November 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.87%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Lynne P. Fox sold 8,949 shares of the firm’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 in the company, valued at approximately $609,025.84. This trade represents a 28.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Julie Kelly sold 6,697 shares of Amalgamated Financial stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.34, for a total value of $183,095.98. Following the transaction, the director owned 16,763 shares of the company’s stock, valued at $458,300.42. The trade was a 28.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,343 shares of company stock valued at $610,858 in the last quarter. Company insiders own 1.29% of the company’s stock.

About Amalgamated Financial

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.