American Century Companies Inc. Purchases 63,561 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

American Century Companies Inc. boosted its position in Amalgamated Financial Corp. (NASDAQ:AMAL) by 17.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 428,745 shares of the company’s stock after acquiring an additional 63,561 shares during the period. American Century Companies Inc. owned 1.40% of Amalgamated Financial worth $11,748,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Amalgamated Financial by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock valued at $27,096,000 after purchasing an additional 122,722 shares during the period. Principal Financial Group Inc. lifted its position in shares of Amalgamated Financial by 25.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,618 shares of the company’s stock worth $394,000 after acquiring an additional 2,986 shares in the last quarter. Quest Partners LLC bought a new position in shares of Amalgamated Financial in the fourth quarter worth $409,000. Parallel Advisors LLC grew its position in shares of Amalgamated Financial by 50.5% in the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock valued at $44,000 after purchasing an additional 548 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Amalgamated Financial by 1.4% during the 4th quarter. Isthmus Partners LLC now owns 98,285 shares of the company’s stock valued at $2,648,000 after purchasing an additional 1,314 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $31.76 on Friday. The company has a market capitalization of $969.44 million, a price-to-earnings ratio of 10.38 and a beta of 0.93. The business has a 50 day moving average of $30.89 and a 200 day moving average of $26.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 1-year low of $15.19 and a 1-year high of $33.24.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $77.33 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same quarter in the prior year, the company earned $0.72 EPS. On average, sell-side analysts predict that Amalgamated Financial Corp. will post 3.29 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 15.69%.

Insider Transactions at Amalgamated Financial

In related news, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the sale, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the transaction, the chief financial officer now owns 56,470 shares in the company, valued at $1,525,819.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the sale, the insider now owns 440,401 shares of the company’s stock, valued at $13,674,451.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,041 shares of company stock worth $4,004,560. 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.