Amalgamated Financial Corp. $AMAL Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 27.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 38,393 shares of the company’s stock after selling 14,203 shares during the period. Hsbc Holdings PLC owned about 0.13% of Amalgamated Financial worth $1,493,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares during the period. Versor Investments LP acquired a new position in Amalgamated Financial during the fourth quarter worth $935,000. Abacus Wealth Partners LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter worth $2,100,000. Quent Capital LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter worth $659,000. Finally, R Squared Ltd acquired a new stake in shares of Amalgamated Financial in the fourth quarter valued at $485,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the transaction, the director owned 19,942 shares in the company, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Leslie Veluswamy sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $43.51, for a total value of $108,775.00. Following the transaction, the chief accounting officer directly owned 14,215 shares of the company’s stock, valued at approximately $618,494.65. This represents a 14.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,589 shares of company stock worth $325,139 in the last quarter. 1.63% of the stock is owned by company insiders.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $49.01 on Tuesday. The company has a fifty day simple moving average of $44.64 and a two-hundred day simple moving average of $41.13. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 13.07 and a beta of 0.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.09. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $50.92.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a return on equity of 14.49% and a net margin of 23.34%. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on AMAL. Keefe, Bruyette & Woods boosted their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday. Weiss Ratings cut Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Piper Sandler lifted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Amalgamated Financial Profile

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.