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

Amalgamated Financial Corp. (NASDAQ:AMAL) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 895,600 shares, an increase of 8.2% from the November 30th total of 828,100 shares. Based on an average trading volume of 178,300 shares, the days-to-cover ratio is currently 5.0 days. Approximately 4.8% of the shares of the stock are sold short.

Insider Buying and Selling at Amalgamated Financial

In related news, major shareholder United Workers sold 31,844 shares of the 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 completion of the sale, the insider now owns 7,512,731 shares in the company, valued at approximately $268,730,387.87. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 175,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $37.24, for a total value of $6,517,000.00. Following the completion of the transaction, the insider now directly owns 7,558,575 shares in the company, valued at approximately $281,481,333. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 591,849 shares of company stock valued at $21,099,252 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in shares of 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 purchasing an additional 512 shares during the last quarter. CWM LLC lifted its position in Amalgamated Financial by 74.9% in the third quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after buying an additional 1,034 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after buying an additional 528 shares during the period. Acadian Asset Management LLC purchased a new position in Amalgamated Financial during the second quarter worth $213,000. Finally, The Manufacturers Life Insurance Company bought a new position in Amalgamated Financial during the third quarter valued at $214,000. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Stock Down 0.2 %

NASDAQ AMAL opened at $33.47 on Thursday. The stock has a 50 day moving average price of $34.97 and a 200-day moving average price of $31.87. Amalgamated Financial has a one year low of $21.33 and a one year 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 company has a market capitalization of $1.03 billion, a P/E ratio of 9.84 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, 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 business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same quarter last year, the business earned $0.76 earnings per share. As a group, equities analysts predict that Amalgamated Financial will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.12 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.48 annualized dividend and a yield of 1.43%. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMAL. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th.

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.