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

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 949,100 shares, a growth of 6.0% from the December 31st total of 895,600 shares. Based on an average daily volume of 180,300 shares, the short-interest ratio is currently 5.3 days. Approximately 5.1% of the company's stock are short sold.

Amalgamated Financial Stock Performance

AMAL stock traded up $0.93 during midday trading on Thursday, hitting $35.62. 143,603 shares of the company traded hands, compared to its average volume of 189,208. The business has a 50 day simple moving average of $34.55 and a 200-day simple moving average of $33.15. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial has a twelve month low of $21.33 and a twelve month high of $38.19. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.32 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, equities research analysts predict that Amalgamated Financial will post 3.65 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.56 dividend on an annualized basis and a yield of 1.57%. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.12. Amalgamated Financial's dividend payout ratio (DPR) is 13.91%.

Analyst Ratings Changes

AMAL has been the topic of a number of recent research reports. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th.

Insider Activity at Amalgamated Financial

In related news, major shareholder United Workers sold 55,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $37.23, for a total value of $2,047,650.00. Following the completion of the sale, the insider now owns 7,379,084 shares of the company's stock, valued at approximately $274,723,297.32. The trade was a 0.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jason Darby sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.59, for a total transaction of $146,360.00. Following the transaction, the chief financial officer now directly owns 50,208 shares in the company, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,192 shares of company stock valued at $8,693,120. Corporate insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC grew its position in Amalgamated Financial by 198.0% in the 3rd quarter. FMR LLC now owns 35,663 shares of the company's stock worth $1,119,000 after purchasing an additional 23,697 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock valued at $17,806,000 after buying an additional 89,444 shares during the period. State Street Corp grew its position in Amalgamated Financial by 4.9% during the third quarter. State Street Corp now owns 704,868 shares of the company's stock worth $22,112,000 after buying an additional 33,095 shares in the last quarter. Tidal Investments LLC bought a new position in Amalgamated Financial during the third quarter valued at about $496,000. Finally, Geode Capital Management LLC raised its holdings in Amalgamated Financial by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company's stock valued at $15,026,000 after acquiring an additional 34,109 shares in 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.