Bessemer Group Inc. Buys 47,770 Shares of Amalgamated Financial Corp. $AMAL

Key Points

• Bessemer Group Inc. increased its stake in Amalgamated Financial by 46.6% in the first quarter, adding 47,770 shares and bringing its total holding to 150,263 shares worth about $5.84 million.
• Institutional ownership remains high, with hedge funds and other investors owning 75.93% of Amalgamated Financial’s stock, and several firms also recently boosted their positions.
• Analysts are cautious overall: recent ratings include upgrades from Weiss and Zacks, but Piper Sandler kept a neutral view while raising its price target to $48; the consensus rating is Hold.

Bessemer Group Inc. boosted its stake in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 46.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 150,263 shares of the company's stock after buying an additional 47,770 shares during the period. Bessemer Group Inc. owned approximately 0.50% of Amalgamated Financial worth $5,841,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AMAL. Osaic Holdings Inc. lifted its position in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock worth $34,000 after acquiring an additional 391 shares during the last quarter. Arax Advisory Partners grew its position in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock valued at $41,000 after purchasing an additional 827 shares during the last quarter. CWM LLC increased its stake in shares of Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company's stock worth $60,000 after purchasing an additional 549 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock worth $63,000 after purchasing an additional 1,177 shares during the period. Finally, Quadrant Capital Group LLC acquired a new stake in Amalgamated Financial during the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMAL. Weiss Ratings upgraded Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Zacks Research upgraded Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Finally, Piper Sandler lifted their target price on Amalgamated Financial from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $48.00.

Amalgamated Financial Stock Down 1.0%

Shares of AMAL opened at $47.17 on Tuesday. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $48.59. The firm's 50 day moving average is $43.83 and its 200-day moving average is $40.58. The stock has a market capitalization of $1.41 billion, a PE ratio of 13.71 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.15). The company had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction 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 completion of the transaction, the chief accounting officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maryann Bruce sold 2,089 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total value of $86,463.71. Following the sale, the director directly owned 19,942 shares in the company, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,589 shares of company stock valued at $325,139 in the last three months. Corporate insiders own 1.63% of the company's stock.

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.

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