Bailard Inc. Invests $754,000 in Amalgamated Financial Corp. (NASDAQ:AMAL)

Bailard Inc. acquired a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,003 shares of the company’s stock, valued at approximately $754,000. Bailard Inc. owned 0.09% of Amalgamated Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its holdings in Amalgamated Financial by 2.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock valued at $37,579,000 after purchasing an additional 59,337 shares during the period. Schroder Investment Management Group grew its holdings in Amalgamated Financial by 26.5% during the third quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after purchasing an additional 66,420 shares during the period. Clean Yield Group grew its holdings in Amalgamated Financial by 3.5% during the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock valued at $3,919,000 after purchasing an additional 4,960 shares during the period. Assenagon Asset Management S.A. grew its holdings in Amalgamated Financial by 30.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 129,127 shares of the company’s stock valued at $3,479,000 after purchasing an additional 30,262 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Amalgamated Financial by 3.9% during the third quarter. Brown Advisory Inc. now owns 862,875 shares of the company’s stock valued at $14,859,000 after purchasing an additional 32,733 shares during the period. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Price Performance

NASDAQ:AMAL opened at $24.60 on Friday. The firm has a market capitalization of $750.30 million, a price-to-earnings ratio of 8.60 and a beta of 0.94. Amalgamated Financial Corp. has a 52-week low of $14.05 and a 52-week high of $27.77. The stock has a fifty day moving average of $23.19 and a 200 day moving average of $22.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.65 and a current ratio of 0.65.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $105.39 million for the quarter, compared to the consensus estimate of $71.59 million. Amalgamated Financial had a net margin of 22.71% and a return on equity of 16.60%. During the same period in the prior year, the business posted $0.83 EPS. On average, research analysts expect that Amalgamated Financial Corp. will post 3.07 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.12 per share. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.95%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 13.99%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMAL shares. Piper Sandler reaffirmed an “overweight” rating and issued a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a report on Friday. JPMorgan Chase & Co. cut their price target on Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods cut their price target on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 5th.

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.