Neumeier Poma Investment Counsel LLC Invests $13.09 Million in Amalgamated Financial Corp. (NASDAQ:AMAL)

Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 391,195 shares of the company’s stock, valued at approximately $13,093,000.

A number of other large investors also recently bought and sold shares of AMAL. USA Financial Formulas purchased a new position in shares of Amalgamated Financial in the 4th quarter valued at $34,000. R Squared Ltd bought a new stake in Amalgamated Financial during the fourth quarter valued at about $38,000. New York State Teachers Retirement System bought a new stake in Amalgamated Financial during the fourth quarter valued at about $55,000. KLP Kapitalforvaltning AS purchased a new position in Amalgamated Financial in the fourth quarter valued at about $90,000. Finally, US Bancorp DE raised its holdings in Amalgamated Financial by 28.1% in the fourth quarter. US Bancorp DE now owns 2,962 shares of the company’s stock worth $99,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $42.00 to $38.00 in a report on Friday, February 21st.

Amalgamated Financial Trading Up 0.6 %

Amalgamated Financial stock opened at $29.59 on Thursday. Amalgamated Financial Corp. has a one year low of $21.33 and a one year high of $38.19. The stock has a market cap of $908.03 million, a PE ratio of 8.58 and a beta of 0.93. 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 has a 50-day moving average of $32.94 and a two-hundred day moving average of $33.44.

Amalgamated Financial (NASDAQ:AMAL) last announced 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 net margin of 24.50% and a return on equity of 16.49%. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, February 11th. 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 1.89%. Amalgamated Financial’s payout ratio is 16.23%.

Amalgamated Financial announced that its board has approved a stock repurchase plan on Monday, March 10th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase 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.

Insider Activity at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 1,327 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total value of $45,502.83. Following the sale, the insider now owns 7,121,506 shares in the company, valued at $244,196,440.74. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 30,916 shares of company stock valued at $1,035,526 in the last ninety days. Company 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.