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

Amalgamated Financial Corp. (NASDAQ:AMALGet Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 582,200 shares, a growth of 223.6% from the August 15th total of 179,900 shares. Based on an average daily volume of 126,600 shares, the days-to-cover ratio is currently 4.6 days. Currently, 3.5% of the shares of the stock are short sold.

Amalgamated Financial Stock Down 0.1 %

Amalgamated Financial stock opened at $22.83 on Wednesday. The firm’s 50 day moving average price is $22.36 and its two-hundred day moving average price is $20.05. Amalgamated Financial has a twelve month low of $13.48 and a twelve month high of $25.03. The firm has a market cap of $700.63 million, a PE ratio of 11.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58.

Amalgamated Financial (NASDAQ:AMALGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Amalgamated Financial had a net margin of 27.11% and a return on equity of 12.26%. The firm had revenue of $63.74 million during the quarter, compared to analysts’ expectations of $58.50 million. During the same period in the prior year, the company posted $0.32 earnings per share. On average, research analysts predict that Amalgamated Financial will post 2.45 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Wednesday, August 10th were given a $0.10 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.08. Amalgamated Financial’s payout ratio is currently 19.61%.

Insider Buying and Selling

In other Amalgamated Financial news, insider Financial Corp. Amalgamated bought 12,669 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average cost of $23.68 per share, for a total transaction of $300,001.92. Following the acquisition, the insider now directly owns 8,003,019 shares of the company’s stock, valued at $189,511,489.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Financial Corp. Amalgamated purchased 12,669 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average price of $23.68 per share, for a total transaction of $300,001.92. Following the completion of the acquisition, the insider now directly owns 8,003,019 shares of the company’s stock, valued at $189,511,489.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Darby sold 4,404 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $23.06, for a total transaction of $101,556.24. The disclosure for this sale can be found here. Insiders own 2.12% of the company’s stock.

Institutional Trading of Amalgamated Financial

A number of institutional investors and hedge funds have recently made changes to their positions in AMAL. Assenagon Asset Management S.A. lifted its position in shares of Amalgamated Financial by 102.5% in the second quarter. Assenagon Asset Management S.A. now owns 178,440 shares of the company’s stock worth $3,530,000 after buying an additional 90,301 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Amalgamated Financial by 37.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 330,298 shares of the company’s stock worth $5,932,000 after purchasing an additional 90,000 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Amalgamated Financial by 888.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 53,337 shares of the company’s stock worth $1,055,000 after purchasing an additional 47,941 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Amalgamated Financial by 15.4% in the first quarter. JPMorgan Chase & Co. now owns 354,255 shares of the company’s stock worth $6,366,000 after purchasing an additional 47,214 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Amalgamated Financial by 62.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 115,487 shares of the company’s stock worth $1,937,000 after purchasing an additional 44,404 shares during the period. Institutional investors and hedge funds own 37.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price objective on shares of Amalgamated Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 1st.

Amalgamated Financial Company Profile

(Get Rating)

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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