Bridgeway Capital Management LLC Has $10.81 Million Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Bridgeway Capital Management LLC grew its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,833 shares of the company’s stock after purchasing an additional 68,381 shares during the period. Bridgeway Capital Management LLC owned about 1.05% of Amalgamated Financial worth $10,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amalgamated Financial during the 4th quarter worth $469,000. JPMorgan Chase & Co. raised its position in shares of Amalgamated Financial by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock worth $17,806,000 after purchasing an additional 89,444 shares during the period. Tidal Investments LLC bought a new position in shares of Amalgamated Financial during the 3rd quarter valued at about $496,000. Victory Capital Management Inc. acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at approximately $804,000. Finally, Mariner LLC bought a new stake in Amalgamated Financial during the 4th quarter worth approximately $262,000. 75.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMAL shares. Keefe, Bruyette & Woods reduced their price target on shares of Amalgamated Financial from $41.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Piper Sandler lowered 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 Trading Down 0.4 %

NASDAQ AMAL opened at $29.45 on Wednesday. Amalgamated Financial Corp. has a 52 week low of $24.02 and a 52 week high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50 day moving average price is $28.38 and its two-hundred day moving average price is $32.55. The stock has a market capitalization of $903.73 million, a price-to-earnings ratio of 8.54 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.88 EPS for the quarter, hitting analysts’ consensus estimates of $0.88. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. The business had revenue of $79.69 million for the quarter, compared to analyst estimates of $74.78 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, May 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 6th. Amalgamated Financial’s payout ratio is 16.62%.

Amalgamated Financial declared that its board has approved a share repurchase program on Monday, March 10th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the sale, the executive vice president now owns 17,639 shares in the company, valued at $573,091.11. This trade represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tyrone Graham sold 869 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.73, for a total transaction of $25,835.37. Following the transaction, the executive vice president now owns 10,580 shares in the company, valued at $314,543.40. This represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,926 shares of company stock valued at $243,070. 1.29% of the stock is owned by insiders.

Amalgamated Financial 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.