Amalgamated Financial Corp. (NASDAQ:AMAL) Short Interest Down 8.8% in April

Amalgamated Financial Corp. (NASDAQ:AMAL) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 803,500 shares, a drop of 8.8% from the March 31st total of 881,100 shares. Based on an average daily volume of 151,200 shares, the days-to-cover ratio is currently 5.3 days. Approximately 4.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMAL. Redwood Grove Capital LLC purchased a new position in shares of Amalgamated Financial during the 3rd quarter worth $3,972,000. Dimensional Fund Advisors LP raised its holdings in shares of Amalgamated Financial by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock worth $27,096,000 after acquiring an additional 122,722 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Amalgamated Financial by 402.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 86,682 shares of the company’s stock worth $2,335,000 after acquiring an additional 69,416 shares during the period. Schroder Investment Management Group raised its holdings in shares of Amalgamated Financial by 26.5% during the 3rd quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock worth $5,461,000 after acquiring an additional 66,420 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Amalgamated Financial by 178.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 98,865 shares of the company’s stock worth $1,702,000 after acquiring an additional 63,385 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Piper Sandler reissued an “overweight” rating and issued a $29.00 price target (up previously from $28.00) on shares of Amalgamated Financial in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a research note on Thursday, April 4th.

Amalgamated Financial Price Performance

Amalgamated Financial stock opened at $24.60 on Monday. The company’s fifty day moving average price is $23.20 and its 200 day moving average price is $22.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $750.30 million, a P/E ratio of 8.04 and a beta of 0.94. Amalgamated Financial has a 1 year low of $14.05 and a 1 year high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $105.39 million during the quarter, compared to analysts’ expectations of $71.59 million. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.81%. During the same quarter in the previous year, the business posted $0.83 EPS. As a group, equities research analysts anticipate that Amalgamated Financial will post 3.07 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, May 7th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10. Amalgamated Financial’s payout ratio is currently 13.07%.

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.