Amalgamated Financial Corp. (NASDAQ:AMAL) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 242,821 shares of the company’s stock after buying an additional 12,182 shares during the period. Federated Hermes Inc. owned approximately 0.79% of Amalgamated Financial worth $8,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new stake in Amalgamated Financial during the 4th quarter valued at approximately $34,000. R Squared Ltd purchased a new stake in shares of Amalgamated Financial during the fourth quarter worth approximately $38,000. New York State Teachers Retirement System acquired a new stake in shares of Amalgamated Financial during the fourth quarter worth $55,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Amalgamated Financial during the fourth quarter worth $90,000. Finally, US Bancorp DE grew its position in Amalgamated Financial by 28.1% in the 4th quarter. US Bancorp DE now owns 2,962 shares of the company’s stock valued at $99,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler cut shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $38.00 in a research note on Friday, February 21st.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $26.24 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $30.95 and its two-hundred day moving average is $33.09. The stock has a market capitalization of $805.23 million, a price-to-earnings ratio of 7.61 and a beta of 0.75. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, January 23rd. The company reported $0.90 EPS 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%. Research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The business also recently declared 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 2.13%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.23%.

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

Insider Transactions at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the completion of the sale, the insider now owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the completion of the transaction, the director now owns 18,319 shares in the company, valued at approximately $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,656 shares of company stock valued at $1,054,122 in the last quarter. 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.