Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 881,100 shares, an increase of 5.3% from the March 15th total of 837,000 shares. Based on an average daily volume of 154,900 shares, the days-to-cover ratio is presently 5.7 days. Currently, 5.0% of the company’s stock are short sold.
Analyst Ratings Changes
A number of research firms have weighed in on AMAL. Keefe, Bruyette & Woods reduced their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 5th. JPMorgan Chase & Co. reduced their price target on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company in a research note on Thursday, April 4th.
Check Out Our Latest Report on AMAL
Hedge Funds Weigh In On Amalgamated Financial
Amalgamated Financial Stock Performance
Shares of AMAL traded down $0.16 on Tuesday, reaching $21.62. The company’s stock had a trading volume of 19,378 shares, compared to its average volume of 148,166. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65. Amalgamated Financial has a 12-month low of $14.05 and a 12-month high of $27.77. The stock has a market capitalization of $659.41 million, a P/E ratio of 7.62 and a beta of 0.94. The stock’s 50 day simple moving average is $23.45 and its two-hundred day simple moving average is $22.59.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Amalgamated Financial had a net margin of 22.71% and a return on equity of 16.60%. The firm had revenue of $105.39 million for the quarter, compared to analysts’ expectations of $71.59 million. During the same period in the prior year, the firm earned $0.83 EPS. Research analysts forecast that Amalgamated Financial will post 3.07 earnings per share for the current fiscal year.
Amalgamated Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, February 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 13.99%.
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.
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