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

Amalgamated Financial Corp. (NASDAQ:AMAL) was the target of a significant growth in short interest during 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. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 175,700 shares, the days-to-cover ratio is currently 4.5 days.

Insider Activity

In other Amalgamated Financial 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 transaction, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. This represents a 15.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder United Workers sold 31,844 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the sale, the insider now directly owns 7,512,731 shares in the company, valued at $268,730,387.87. This 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 worth $24,995,731 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Amalgamated Financial

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its position in Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after buying an additional 63,561 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Amalgamated Financial during the 1st quarter valued at $909,000. LSV Asset Management purchased a new stake in Amalgamated Financial during the 2nd quarter worth $1,378,000. Deerfield Management Company L.P. Series C acquired a new stake in Amalgamated Financial in the 2nd quarter valued at $1,219,000. Finally, Harrington Investments INC increased its holdings in Amalgamated Financial by 1.0% in the 2nd quarter. Harrington Investments INC now owns 75,900 shares of the company’s stock valued at $2,080,000 after purchasing an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler lifted their target price on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday.

Amalgamated Financial Trading Up 0.9 %

Amalgamated Financial stock traded up $0.31 during 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 12-month low of $21.33 and a 12-month high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50 day moving average price is $34.02 and its two-hundred day moving average price is $30.51. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.35 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. The business had revenue of $111.76 million during the quarter, compared to the consensus estimate of $79.50 million. During the same period in the prior year, the firm posted $0.76 EPS. As a group, equities analysts expect that Amalgamated Financial will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $0.12 dividend. The ex-dividend date 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 (DPR) is 14.12%.

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.