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

Segall Bryant & Hamill LLC lifted its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 22.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,110 shares of the company’s stock after purchasing an additional 11,735 shares during the period. Segall Bryant & Hamill LLC’s holdings in Amalgamated Financial were worth $2,112,000 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. USA Financial Formulas purchased a new stake in Amalgamated Financial during the fourth quarter worth about $34,000. R Squared Ltd purchased a new stake in shares of Amalgamated Financial during the 4th quarter worth approximately $38,000. New York State Teachers Retirement System bought a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $55,000. KLP Kapitalforvaltning AS purchased a new position in Amalgamated Financial in the fourth quarter valued at approximately $90,000. Finally, US Bancorp DE grew its holdings in Amalgamated Financial by 28.1% during the fourth quarter. US Bancorp DE now owns 2,962 shares of the company’s stock valued at $99,000 after purchasing an additional 650 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler downgraded shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Amalgamated Financial Trading Down 0.5 %

NASDAQ:AMAL opened at $29.43 on Friday. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. The stock’s fifty day moving average price is $32.83 and its two-hundred day moving average price is $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. The company has a market cap of $903.12 million, a P/E ratio of 8.53 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a $0.14 dividend. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio (DPR) is 16.23%.

Amalgamated Financial declared that its board has authorized a stock buyback program on Monday, March 10th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Amalgamated Financial

In related news, 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 completion of the transaction, the executive vice president now directly owns 10,580 shares in the company, valued at $314,543.40. The trade was a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the completion of the transaction, the director now owns 18,319 shares in the company, valued at $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,916 shares of company stock valued at $1,035,526. Corporate insiders own 0.90% of the company’s stock.

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.