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

Bessemer Group Inc. increased its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 46.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,263 shares of the company’s stock after acquiring an additional 47,770 shares during the period. Bessemer Group Inc.’s holdings in Amalgamated Financial were worth $5,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Osaic Holdings Inc. increased its stake 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 acquiring an additional 391 shares during the last quarter. Arax Advisory Partners lifted its stake in Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after purchasing an additional 827 shares during the last quarter. CWM LLC lifted its stake in 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 last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Amalgamated Financial by 140.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in shares of Amalgamated Financial in the 3rd quarter valued at $77,000. 75.93% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Jason Darby sold 3,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the completion of the transaction, the chief financial officer directly owned 79,343 shares in the company, valued at approximately $3,435,551.90. This represents a 3.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Leslie Veluswamy sold 2,500 shares of the firm’s 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 sale, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 7,589 shares of company stock worth $325,139. Insiders own 1.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amalgamated Financial Price Performance

AMAL stock opened at $47.17 on Tuesday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 13.71 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 company has a 50 day simple moving average of $43.83 and a 200 day simple moving average of $40.58. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $48.59.

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

Amalgamated Financial Company 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.