Amalgamated Financial Corp. (NASDAQ:AMAL) Short Interest Up 8.7% in November

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

Amalgamated Financial Price Performance

Shares of NASDAQ AMAL opened at $35.64 on Tuesday. The stock’s 50-day moving average is $33.85 and its two-hundred day moving average is $30.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial has a 1-year low of $21.33 and a 1-year high of $38.19. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 10.45 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same period in the prior year, the firm posted $0.76 EPS. Analysts forecast that Amalgamated Financial will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently announced 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 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 (DPR) is presently 14.12%.

Insider Activity

In related news, major shareholder United Canada Council Workers sold 82,464 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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. The trade was a 15.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Searby sold 8,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total value of $273,120.00. Following the completion of the sale, the executive vice president now owns 15,802 shares in the company, valued at $539,480.28. This represents a 33.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 718,890 shares of company stock valued at $24,995,731 in the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Trading of Amalgamated Financial

A number of large investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in Amalgamated Financial during the 3rd quarter worth approximately $496,000. Geode Capital Management LLC raised its stake in shares of Amalgamated Financial by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock worth $15,026,000 after buying an additional 34,109 shares in the last quarter. Barclays PLC raised its stake in shares of Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after buying an additional 57,008 shares in the last quarter. Jane Street Group LLC increased its stake in Amalgamated Financial by 26.4% in the 3rd quarter. Jane Street Group LLC now owns 29,977 shares of the company’s stock valued at $940,000 after purchasing an additional 6,258 shares in the last quarter. Finally, State Street Corp increased its stake in Amalgamated Financial by 4.9% in the 3rd quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after purchasing an additional 33,095 shares in the last quarter. 75.93% of the stock is 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.