Amalgamated Financial Corp. (NASDAQ:AMAL) Short Interest Up 6.0% in January

Amalgamated Financial Corp. (NASDAQ:AMALGet Free Report) saw a significant growth in short interest in the month of 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. Approximately 5.1% of the shares of the company are sold short. Based on an average daily volume of 180,300 shares, the short-interest ratio is presently 5.3 days.

Insider Activity

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 175,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the transaction, the insider now owns 7,558,575 shares of the company’s stock, valued at approximately $281,481,333. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maryann Bruce sold 4,403 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now owns 18,319 shares in the company, valued at $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,865 shares of company stock valued at $14,547,758. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Amalgamated Financial by 198.0% in the 3rd quarter. FMR LLC now owns 35,663 shares of the company’s stock valued at $1,119,000 after acquiring an additional 23,697 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 89,444 shares in the last quarter. State Street Corp lifted its holdings in shares of Amalgamated Financial by 4.9% in the third 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. Tidal Investments LLC acquired a new stake in shares of Amalgamated Financial in the third quarter worth $496,000. Finally, Geode Capital Management LLC grew its holdings in shares of Amalgamated Financial by 7.7% during the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock valued at $15,026,000 after buying an additional 34,109 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMAL. Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their target price on Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

Read Our Latest Analysis on Amalgamated Financial

Amalgamated Financial Trading Up 2.3 %

Shares of NASDAQ:AMAL opened at $34.94 on Monday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.13 and a beta of 0.93. Amalgamated Financial has a 1-year low of $21.33 and a 1-year high of $38.19. The company has a 50 day moving average price of $34.70 and a 200 day moving average price of $33.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMALGet Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, research analysts anticipate that Amalgamated Financial will post 3.65 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, February 11th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.60%. Amalgamated Financial’s dividend payout ratio is currently 13.91%.

About Amalgamated Financial

(Get Free Report)

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.

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