Counterpoint Mutual Funds LLC Purchases Shares of 8,994 Amalgamated Financial Corp. (NASDAQ:AMAL)

Counterpoint Mutual Funds LLC purchased a new stake in Amalgamated Financial Corp. (NASDAQ:AMAL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,994 shares of the company’s stock, valued at approximately $301,000.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Amalgamated Financial by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 124,522 shares of the company’s stock valued at $3,906,000 after purchasing an additional 6,298 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Amalgamated Financial by 14.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,420 shares of the company’s stock valued at $1,456,000 after purchasing an additional 5,885 shares during the period. Quest Partners LLC grew its stake in shares of Amalgamated Financial by 18.7% in the 3rd quarter. Quest Partners LLC now owns 11,905 shares of the company’s stock valued at $373,000 after purchasing an additional 1,877 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Amalgamated Financial in the 3rd quarter valued at approximately $1,612,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Amalgamated Financial by 125.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,089 shares of the company’s stock valued at $1,289,000 after purchasing an additional 22,865 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

AMAL has been the topic of several analyst reports. Piper Sandler lowered Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $38.00 in a research note on Friday, February 21st. Keefe, Bruyette & Woods upped their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Insider Activity at Amalgamated Financial

In other news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total value of $616,860.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tyrone Graham sold 3,317 shares of Amalgamated Financial stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.50, for a total value of $101,168.50. Following the completion of the sale, the executive vice president now directly owns 11,449 shares of the company’s stock, valued at $349,194.50. This trade represents a 22.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,916 shares of company stock valued at $1,035,526 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Trading Down 1.1 %

AMAL stock opened at $29.37 on Wednesday. The business has a fifty day moving average price of $33.45 and a 200 day moving average price of $33.56. Amalgamated Financial Corp. has a fifty-two week low of $21.33 and a fifty-two week high of $38.19. The stock has a market capitalization of $901.28 million, a price-to-earnings ratio of 8.51 and a beta of 0.93. 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 (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. Analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.91%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.23%.

Amalgamated Financial announced that its board has approved a stock buyback plan on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.