Amalgamated Financial Corp. (NASDAQ:AMAL) Sees Significant Increase in Short Interest

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

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $35.53 on Monday. The company has a market cap of $1.09 billion, a P/E ratio of 10.48 and a beta of 0.91. The firm’s 50 day moving average is $33.85 and its two-hundred day moving average is $30.37. Amalgamated Financial has a fifty-two week low of $21.33 and a fifty-two week high of $38.19. 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 (NASDAQ:AMAL) last issued its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $79.50 million. During the same period last year, the company posted $0.76 EPS. Analysts expect that Amalgamated Financial will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Insider Activity at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the completion of the sale, the insider now owns 384,980 shares of the company’s stock, valued at $11,537,850.60. The trade was a 10.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Darby sold 4,000 shares of the 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 owns 50,208 shares in the company, valued at $1,837,110.72. This trade represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 718,890 shares of company stock valued at $24,995,731. 0.90% of the stock is owned by insiders.

Institutional Trading of Amalgamated Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AMAL. Tidal Investments LLC acquired a new position in Amalgamated Financial during the third quarter valued at approximately $496,000. Geode Capital Management LLC raised its stake in shares of 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 during the period. Barclays PLC lifted its holdings in shares of Amalgamated Financial by 91.7% during the 3rd quarter. Barclays PLC now owns 119,165 shares of the company’s stock valued at $3,739,000 after acquiring an additional 57,008 shares in the last quarter. Jane Street Group LLC boosted its position in Amalgamated Financial by 26.4% during the 3rd quarter. Jane Street Group LLC now owns 29,977 shares of the company’s stock worth $940,000 after purchasing an additional 6,258 shares during the period. Finally, State Street Corp increased its holdings 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. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.