Hsbc Holdings PLC reduced its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Free Report) by 27.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 38,393 shares of the company’s stock after selling 14,203 shares during the period. Hsbc Holdings PLC’s holdings in Amalgamated Financial were worth $1,493,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. increased its holdings in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after buying an additional 391 shares during the last quarter. Arax Advisory Partners lifted its holdings in Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after buying an additional 827 shares during the last quarter. CWM LLC lifted its holdings in Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after buying an additional 549 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Amalgamated Financial by 140.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after buying an additional 1,177 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in shares of Amalgamated Financial during the 3rd quarter worth about $77,000. Institutional investors and hedge funds own 75.93% of the company’s stock.
Amalgamated Financial Price Performance
Shares of AMAL opened at $49.01 on Tuesday. Amalgamated Financial Corp. has a 1-year low of $25.13 and a 1-year high of $50.92. The stock has a market cap of $1.46 billion, a PE ratio of 13.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a fifty day moving average price of $44.64 and a 200 day moving average price of $41.13.
Amalgamated Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Tuesday, August 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio is 18.13%.
Analyst Ratings Changes
A number of research analysts have recently commented on AMAL shares. Weiss Ratings downgraded Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods boosted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler upped their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.50.
View Our Latest Report on Amalgamated Financial
Insider Buying and Selling
In related news, Director Maryann Bruce sold 2,089 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total transaction of $86,463.71. Following the transaction, the director owned 19,942 shares in the company, valued at $825,399.38. This trade represents a 9.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction that occurred on 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 in the company, valued at approximately $618,494.65. This trade represents a 14.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,589 shares of company stock worth $325,139 in the last quarter. 1.63% of the stock is owned by insiders.
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.
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