Hsbc Holdings PLC Increases Holdings in Amalgamated Financial Corp. $AMAL

Hsbc Holdings PLC lifted its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 123.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,596 shares of the company’s stock after acquiring an additional 29,090 shares during the period. Hsbc Holdings PLC’s holdings in Amalgamated Financial were worth $1,685,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after acquiring an additional 49,037 shares during the last quarter. Versor Investments LP bought a new stake in Amalgamated Financial in the 4th quarter valued at $935,000. Abacus Wealth Partners LLC bought a new stake in Amalgamated Financial in the 4th quarter valued at $2,100,000. American Century Companies Inc. lifted its stake in Amalgamated Financial by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock worth $15,992,000 after purchasing an additional 36,851 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Amalgamated Financial in the 4th quarter worth $659,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Trading Down 1.6%

Shares of AMAL stock opened at $45.90 on Wednesday. The stock’s 50 day simple moving average is $42.43 and its two-hundred day simple moving average is $39.21. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $47.17. The company has a market cap of $1.37 billion, a PE ratio of 13.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.15). The firm had revenue of $91.36 million for 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%. Research analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

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 completion of the sale, the director directly owned 19,942 shares of the company’s stock, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Searby sold 748 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $40.02, for a total value of $29,934.96. Following the transaction, the executive vice president owned 22,307 shares of the company’s stock, valued at approximately $892,726.14. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 8,337 shares of company stock worth $355,074. 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.