48,870 Shares in Amalgamated Financial Corp. $AMAL Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) in the second quarter, Holdings Channel reports. The firm purchased 48,870 shares of the company’s stock, valued at approximately $2,259,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Amalgamated Financial during the second quarter valued at approximately $156,331,000. Millennium Management LLC increased its position in Amalgamated Financial by 63.7% during the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after purchasing an additional 203,440 shares during the period. Bank of New York Mellon Corp purchased a new position in Amalgamated Financial during the 2nd quarter valued at $6,931,000. Goldman Sachs Group Inc. raised its holdings in Amalgamated Financial by 78.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock worth $9,470,000 after purchasing an additional 129,585 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Amalgamated Financial by 14.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after purchasing an additional 120,483 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jason Darby sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total transaction of $129,900.00. Following the completion of the transaction, the chief financial officer owned 79,343 shares of the company’s stock, valued at $3,435,551.90. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total value of $108,775.00. Following the transaction, the chief accounting officer owned 14,215 shares of the company’s stock, valued at $618,494.65. The trade was a 14.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,727 shares of company stock worth $431,077 in the last 90 days. Insiders own 1.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Piper Sandler raised their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Amalgamated Financial Price Performance

NASDAQ:AMAL opened at $48.69 on Monday. The firm’s 50-day moving average price is $48.10 and its 200-day moving average price is $43.26. The company has a market capitalization of $1.46 billion, a PE ratio of 12.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The business had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. On average, equities analysts predict that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio is presently 18.13%.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.