Counterpoint Mutual Funds LLC Invests $301,000 in Amalgamated Financial Corp. (NASDAQ:AMAL)

Counterpoint Mutual Funds LLC purchased a new position in Amalgamated Financial Corp. (NASDAQ:AMAL) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,994 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas bought a new position in shares of Amalgamated Financial in the 4th quarter worth $34,000. R Squared Ltd bought a new position in Amalgamated Financial during the fourth quarter worth about $38,000. New York State Teachers Retirement System bought a new position in Amalgamated Financial during the fourth quarter worth about $55,000. US Bancorp DE lifted 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 worth $99,000 after acquiring an additional 650 shares in the last quarter. Finally, Midwest Professional Planners LTD. bought a new position in Amalgamated Financial during the fourth quarter worth about $210,000. 75.93% of the stock is currently owned by institutional investors.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $29.37 on Wednesday. The firm has a market cap of $901.28 million, a price-to-earnings ratio of 8.51 and a beta of 0.93. The stock’s 50-day moving average is $33.45 and its 200-day moving average is $33.56. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly 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%. Equities analysts predict that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 11th. Amalgamated Financial’s payout ratio is 16.23%.

Amalgamated Financial announced that its board has initiated a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMAL shares. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler lowered 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 report on Friday, February 21st.

Insider Activity

In related 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 value 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. The trade was a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tyrone Graham sold 869 shares of Amalgamated Financial stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.73, for a total value of $25,835.37. Following the completion of the sale, the executive vice president now directly owns 10,580 shares in the company, valued at approximately $314,543.40. This represents a 7.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,916 shares of company stock worth $1,035,526 over the last three months. 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.