Amalgamated Bank (NASDAQ:AMAL) Short Interest Up 17.2% in June

Amalgamated Bank (NASDAQ:AMAL) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 239,900 shares, an increase of 17.2% from the May 30th total of 204,700 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 45,100 shares, the days-to-cover ratio is presently 5.3 days.

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers acquired a new stake in shares of Amalgamated Bank during the fourth quarter worth $247,000. New York State Common Retirement Fund acquired a new stake in shares of Amalgamated Bank during the fourth quarter worth $213,000. BlackRock Inc. lifted its holdings in shares of Amalgamated Bank by 12.6% during the fourth quarter. BlackRock Inc. now owns 751,848 shares of the company’s stock worth $14,662,000 after purchasing an additional 84,201 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Amalgamated Bank by 145.5% during the fourth quarter. Bank of New York Mellon Corp now owns 57,137 shares of the company’s stock worth $1,114,000 after purchasing an additional 33,863 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Amalgamated Bank in the fourth quarter worth $255,000. 39.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AMAL stock opened at $17.53 on Monday. The firm has a 50-day moving average price of $17.14. The company has a market cap of $556.95 million and a PE ratio of 12.89. Amalgamated Bank has a 52-week low of $14.58 and a 52-week high of $22.97.

Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $48.19 million during the quarter, compared to the consensus estimate of $47.79 million. On average, research analysts predict that Amalgamated Bank will post 1.44 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on AMAL shares. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. Finally, ValuEngine cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.93.

Amalgamated Bank Company Profile

Amalgamated Bank, together with its subsidiaries, provides commercial banking and retail banking products and services in the United States. The company offers deposit products, including time deposits, non-interest and interest-bearing demand accounts, savings and money market accounts, NOW accounts, and certificates of deposit.

Read More: Diluted Earnings Per Share

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