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

Amalgamated Financial Corp. (NASDAQ:AMAL) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 732,300 shares, a decrease of 21.1% from the October 15th total of 927,600 shares. Based on an average daily volume of 158,200 shares, the short-interest ratio is presently 4.6 days. Currently, 4.0% of the shares of the stock are sold short.

Insider Activity at Amalgamated Financial

In other news, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.59, for a total value of $146,360.00. Following the transaction, the chief financial officer now directly owns 50,208 shares of the company’s stock, valued at $1,837,110.72. The trade was a 7.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder United Canada Council Workers sold 44,577 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the sale, the insider now owns 384,980 shares of the company’s stock, valued at $11,537,850.60. This trade represents a 10.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 625,919 shares of company stock valued at $21,688,307 in the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Trading of Amalgamated Financial

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Amalgamated Financial by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock worth $31,716,000 after acquiring an additional 43,213 shares in the last quarter. American Century Companies Inc. raised its position in Amalgamated Financial by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after purchasing an additional 63,561 shares during the period. Arjuna Capital lifted its stake in Amalgamated Financial by 2.5% in the second quarter. Arjuna Capital now owns 176,180 shares of the company’s stock worth $4,827,000 after purchasing an additional 4,319 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock valued at $5,083,000 after buying an additional 111,357 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Amalgamated Financial by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock valued at $4,347,000 after buying an additional 4,555 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL traded down $0.76 on Friday, hitting $35.70. The company’s stock had a trading volume of 81,921 shares, compared to its average volume of 150,978. Amalgamated Financial has a 1 year low of $20.39 and a 1 year high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $1.09 billion, a PE ratio of 10.72 and a beta of 0.91. The company has a 50-day simple moving average of $32.79 and a 200 day simple moving average of $29.48.

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

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 14.12%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

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.