Hsbc Holdings PLC Acquires 29,090 Shares of Amalgamated Financial Corp. $AMAL

Key Points

• HSBC Holdings PLC increased its stake in Amalgamated Financial by 123.8% in the fourth quarter, buying 29,090 additional shares and bringing its total to 52,596 shares worth about $1.69 million.
• Amalgamated Financial shares were down 1.6% to $45.90, but the stock remains near its 52-week high of $47.17 and trades above both its 50-day and 200-day moving averages.
• The company recently reported earnings below expectations at $0.80 per share versus a $0.95 estimate, while analysts currently rate the stock a consensus Hold with an average price target of $48.00.

Hsbc Holdings PLC boosted its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 123.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,596 shares of the company's stock after purchasing an additional 29,090 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of Amalgamated Financial worth $1,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC increased its position in Amalgamated Financial by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company's stock valued at $100,000 after buying an additional 312 shares in the last quarter. Intech Investment Management LLC boosted its stake in Amalgamated Financial by 3.4% in the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company's stock worth $316,000 after purchasing an additional 383 shares in the last quarter. Osaic Holdings Inc. grew its position in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock valued at $34,000 after purchasing an additional 391 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock valued at $306,000 after purchasing an additional 468 shares during the last quarter. Finally, CWM LLC increased its stake in Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $60,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 75.93% of the company's stock.

Amalgamated Financial Trading Down 1.6%

Amalgamated Financial stock opened at $45.90 on Wednesday. The business has a 50-day simple moving average of $42.43 and a two-hundred day simple moving average of $39.21. The company has a market cap of $1.37 billion, a P/E ratio of 13.34 and a beta of 0.80. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $47.17. 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 (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.15). The business had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%. Analysts predict that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were given a $0.17 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.5%. Amalgamated Financial's dividend payout ratio (DPR) is presently 19.77%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, CFO Jason Darby sold 3,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer owned 79,343 shares in the company, valued at $3,435,551.90. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Leslie Veluswamy sold 2,500 shares of the firm'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 completion of the transaction, the chief accounting officer directly owned 14,215 shares in the company, valued at $618,494.65. This trade represents a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,337 shares of company stock valued at $355,074 over the last three months. Insiders own 1.63% of the company's stock.

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.

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