Segall Bryant & Hamill LLC Acquires 11,735 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Segall Bryant & Hamill LLC raised its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 22.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 63,110 shares of the company’s stock after acquiring an additional 11,735 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.21% of Amalgamated Financial worth $2,112,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Congress Asset Management Co. acquired a new stake in Amalgamated Financial in the fourth quarter valued at $5,339,000. Charles Schwab Investment Management Inc. grew its position in shares of Amalgamated Financial by 219.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock valued at $5,083,000 after buying an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock valued at $17,806,000 after buying an additional 89,444 shares during the period. Figure 8 Investment Strategies LLC bought a new position in shares of Amalgamated Financial during the fourth quarter worth about $2,778,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Amalgamated Financial in the fourth quarter worth approximately $2,244,000. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Trading Down 0.5 %

NASDAQ AMAL opened at $29.43 on Friday. The stock has a market capitalization of $903.12 million, a P/E ratio of 8.53 and a beta of 0.93. The business has a 50 day simple moving average of $32.83 and a 200 day simple moving average of $33.41. 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 one year low of $21.33 and a one year high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Research analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial announced that its Board of Directors has initiated a stock buyback program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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 given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, February 11th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio is 16.23%.

Insider Activity

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now directly owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,916 shares of company stock worth $1,035,526 in the last three months. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.