Amalgamated Financial Corp. (NASDAQ:AMAL) Short Interest Update

Amalgamated Financial Corp. (NASDAQ:AMAL) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 796,200 shares, a growth of 8.7% from the October 31st total of 732,300 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average daily trading volume, of 175,700 shares, the short-interest ratio is currently 4.5 days.

Amalgamated Financial Stock Performance

AMAL stock traded up $0.31 during mid-day trading on Wednesday, reaching $35.49. The company had a trading volume of 31,388 shares, compared to its average volume of 152,340. Amalgamated Financial has a one year low of $21.33 and a one year high of $38.19. The stock has a market capitalization of $1.09 billion, a P/E ratio of 10.35 and a beta of 0.91. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $34.02 and its two-hundred day simple moving average is $30.51.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The company had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. During the same quarter last year, the business earned $0.76 earnings per share. Research analysts anticipate that Amalgamated Financial will post 3.46 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.35%. Amalgamated Financial’s dividend payout ratio is presently 14.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMAL shares. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler boosted their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday.

Insider Buying and Selling

In other news, major shareholder United Canada Council Workers sold 82,464 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the sale, the insider now owns 440,401 shares in the company, valued at approximately $13,674,451.05. This represents a 15.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder United Workers sold 31,844 shares of Amalgamated Financial stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $35.77, for a total value of $1,139,059.88. Following the completion of the transaction, the insider now owns 7,512,731 shares of the company’s stock, valued at $268,730,387.87. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 718,890 shares of company stock valued at $24,995,731 in the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in AMAL. Rhumbline Advisers lifted its holdings in shares of Amalgamated Financial by 1.3% in the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after buying an additional 393 shares during the period. US Bancorp DE lifted its holdings in Amalgamated Financial by 28.4% in the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after acquiring an additional 512 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Amalgamated Financial by 12.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after acquiring an additional 528 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Amalgamated Financial by 1.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after purchasing an additional 616 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of Amalgamated Financial by 6.9% in the 2nd quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after purchasing an additional 646 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Company Profile

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.