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

Amalgamated Financial Corp. (NASDAQ:AMAL) was the target of a significant 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 presently 4.5 days. Currently, 4.3% of the shares of the company are short sold.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the 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 completion of the transaction, the insider now owns 440,401 shares in the company, valued at approximately $13,674,451.05. This represents a 15.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder United Workers sold 31,844 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.77, for a total value of $1,139,059.88. Following the completion of the sale, the insider now directly owns 7,512,731 shares of the company’s stock, valued at approximately $268,730,387.87. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 718,890 shares of company stock worth $24,995,731 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMAL. Tidal Investments LLC purchased a new stake in shares of Amalgamated Financial in the 1st quarter worth about $909,000. Boston Partners acquired a new stake in shares of Amalgamated Financial in the first quarter valued at approximately $825,000. CWM LLC increased its stake in shares of Amalgamated Financial by 679.7% during the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after purchasing an additional 1,203 shares in the last quarter. Clean Yield Group increased its stake in shares of Amalgamated Financial by 0.9% during the 2nd quarter. Clean Yield Group now owns 144,541 shares of the company’s stock worth $3,960,000 after purchasing an additional 1,332 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Amalgamated Financial by 82.7% in the 2nd quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock valued at $345,000 after buying an additional 5,692 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Stock Down 0.3 %

Shares of NASDAQ AMAL opened at $35.53 on Monday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.48 and a beta of 0.91. Amalgamated Financial has a 52 week low of $21.33 and a 52 week high of $38.19. The firm has a 50-day moving average price of $33.85 and a 200 day moving average price of $30.37. 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 posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $0.76 EPS. Equities research analysts anticipate that Amalgamated Financial will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

About Amalgamated Financial

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.