Figure 8 Investment Strategies LLC Purchases New Stake in Amalgamated Financial Corp. (NASDAQ:AMAL)

Figure 8 Investment Strategies LLC acquired a new position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 83,006 shares of the company’s stock, valued at approximately $2,778,000. Amalgamated Financial makes up approximately 2.7% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 10th largest position.

Several other hedge funds have also recently bought and sold shares of AMAL. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amalgamated Financial during the fourth quarter worth about $469,000. R Squared Ltd bought a new position in Amalgamated Financial in the 4th quarter valued at approximately $38,000. SG Americas Securities LLC boosted its position in Amalgamated Financial by 35.8% in the fourth quarter. SG Americas Securities LLC now owns 21,379 shares of the company’s stock valued at $716,000 after buying an additional 5,640 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Amalgamated Financial by 15.8% during the fourth quarter. Ballentine Partners LLC now owns 16,712 shares of the company’s stock worth $559,000 after buying an additional 2,283 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Amalgamated Financial during the fourth quarter worth $34,000. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Price Performance

Shares of AMAL opened at $36.33 on Friday. The business has a 50-day moving average of $34.57 and a 200-day moving average of $33.27. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.53 and a beta of 0.92. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. Amalgamated Financial’s payout ratio is currently 13.91%.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, Director Maryann Bruce sold 4,403 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total transaction of $148,689.31. Following the completion of the sale, the director now owns 18,319 shares in the company, valued at approximately $618,632.63. The trade was a 19.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder States Regional Joint Western sold 20,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.30, for a total transaction of $706,000.00. Following the transaction, the insider now owns 7,243,423 shares in the company, valued at approximately $255,692,831.90. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,730 shares of company stock worth $1,869,152 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMAL shares. Keefe, Bruyette & Woods upped 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 raised their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” 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.