Credit Agricole S A Grows Stock Position in Amalgamated Financial Corp. $AMAL

Key Points

• Credit Agricole S A increased its stake in Amalgamated Financial Corp. by 31.5%, acquiring an additional 36,613 shares to reach a total of 152,678 shares, valued at $4,389,000.
• Analysts have recently revised their ratings for Amalgamated Financial, with Piper Sandler downgrading the stock from "neutral" to "underweight" and lowering the target price from $34.00 to $27.00.
• Amalgamated Financial reported a missed earnings target for the latest quarter, with an EPS of $0.88 against an expected $0.90, despite generating revenue of $82.18 million.

Credit Agricole S A raised its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 31.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,678 shares of the company's stock after buying an additional 36,613 shares during the period. Credit Agricole S A owned approximately 0.50% of Amalgamated Financial worth $4,389,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Amalgamated Financial during the first quarter worth about $26,000. Park Square Financial Group LLC acquired a new stake in shares of Amalgamated Financial in the 4th quarter valued at about $41,000. US Bancorp DE lifted its stake in Amalgamated Financial by 12.9% in the first quarter. US Bancorp DE now owns 3,343 shares of the company's stock valued at $96,000 after buying an additional 381 shares during the last quarter. GAMMA Investing LLC grew its position in Amalgamated Financial by 4,136.8% during the 1st quarter. GAMMA Investing LLC now owns 4,830 shares of the company's stock worth $139,000 after purchasing an additional 4,716 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Amalgamated Financial by 7.9% during the 1st quarter. New York State Common Retirement Fund now owns 6,811 shares of the company's stock worth $196,000 after acquiring an additional 500 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL traded down $0.34 on Thursday, hitting $29.33. The company's stock had a trading volume of 26,052 shares, compared to its average volume of 211,051. The stock has a 50 day moving average of $30.64 and a 200-day moving average of $30.20. The company has a market capitalization of $882.98 million, a price-to-earnings ratio of 8.77 and a beta of 0.89. Amalgamated Financial Corp. has a 12-month low of $25.03 and a 12-month high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.02). The company had revenue of $82.18 million for the quarter, compared to analyst estimates of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. As a group, research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.9%. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.77%.

Analysts Set New Price Targets

Separately, Piper Sandler downgraded shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $34.00 to $27.00 in a research report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $33.00.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 4,106 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $29.77, for a total transaction of $122,235.62. Following the completion of the sale, the executive vice president directly owned 12,303 shares in the company, valued at $366,260.31. This represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.29% of the stock is currently owned by insiders.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.