New York State Teachers Retirement System Buys New Shares in Amalgamated Financial Corp. (NASDAQ:AMAL)

New York State Teachers Retirement System purchased a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,638 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAL. USA Financial Formulas purchased a new position in shares of Amalgamated Financial during the 4th quarter worth about $34,000. R Squared Ltd acquired a new position in Amalgamated Financial during the fourth quarter worth approximately $38,000. US Bancorp DE raised its stake in Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after purchasing an additional 512 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Amalgamated Financial in the 3rd quarter valued at $214,000. Finally, Quantbot Technologies LP grew its stake in shares of Amalgamated Financial by 9,898.7% during the 3rd quarter. Quantbot Technologies LP now owns 7,599 shares of the company’s stock valued at $238,000 after buying an additional 7,523 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $32.00 on Tuesday. 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 company has a market cap of $981.41 million, a PE ratio of 9.28 and a beta of 0.92. The company’s fifty day simple moving average is $34.53 and its 200-day simple moving average is $33.60. Amalgamated Financial Corp. has a 52 week low of $21.33 and a 52 week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The business 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 is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.23%.

Insider Buying and Selling

In other news, Director Maryann Bruce sold 4,403 shares of Amalgamated Financial 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 directly owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 1,327 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total value of $45,502.83. Following the completion of the transaction, the insider now owns 7,121,506 shares in the company, valued at approximately $244,196,440.74. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,730 shares of company stock valued at $811,052. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler lowered Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $38.00 in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

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.