83,006 Shares in Amalgamated Financial Corp. (NASDAQ:AMAL) Acquired by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC bought 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 (SEC). The institutional investor bought 83,006 shares of the company’s stock, valued at approximately $2,778,000. Amalgamated Financial makes up about 2.7% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 10th largest position. Figure 8 Investment Strategies LLC owned approximately 0.27% of Amalgamated Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in Amalgamated Financial during the 4th quarter worth $34,000. R Squared Ltd acquired a new stake in shares of Amalgamated Financial during the fourth quarter worth about $38,000. US Bancorp DE lifted its holdings in shares of Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares in the last quarter. CWM LLC grew its position in shares of Amalgamated Financial by 74.9% in the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after purchasing an additional 1,034 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Amalgamated Financial during the 3rd quarter worth approximately $214,000. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Price Performance

NASDAQ AMAL opened at $36.33 on Friday. The firm’s 50 day moving average is $34.57 and its 200-day moving average is $33.27. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.11 billion, a PE ratio of 10.53 and a beta of 0.92. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data 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 research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.54%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. Amalgamated Financial’s payout ratio is presently 13.91%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $35.21, for a total value of $352,100.00. Following the transaction, the insider now directly owns 7,185,816 shares in the company, valued at $253,012,581.36. The trade was a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the firm’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 owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,730 shares of company stock valued at $1,869,152. 0.90% of the stock is currently owned by corporate insiders.

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.