Amalgamated Financial Corp. (AMAL) To Go Ex-Dividend on February 11th

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Tuesday, February 11th will be given a dividend of 0.14 per share on Thursday, February 27th. This represents a $0.56 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, February 11th. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12.

Amalgamated Financial has increased its dividend by an average of 12.9% per year over the last three years. Amalgamated Financial has a dividend payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amalgamated Financial to earn $3.48 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 13.8%.

Amalgamated Financial Stock Down 4.9 %

Amalgamated Financial stock opened at $34.80 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial has a 1-year low of $21.33 and a 1-year high of $38.19. The firm’s fifty day simple moving average is $34.87 and its 200-day simple moving average is $32.76. The company has a market capitalization of $1.07 billion, a P/E ratio of 10.24 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. Sell-side analysts forecast that Amalgamated Financial will post 3.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMAL shares. Piper Sandler lifted their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods boosted their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Insider Transactions at Amalgamated Financial

In other news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the completion of the transaction, the insider now owns 355,893 shares of the company’s stock, valued at approximately $12,214,247.76. This represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder States Regional Joint Western sold 10,000 shares of Amalgamated Financial stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total value of $352,100.00. Following the sale, the insider now directly owns 7,185,816 shares in the company, valued at approximately $253,012,581.36. This trade represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 591,849 shares of company stock worth $21,099,252 over the last three months. 0.90% of the stock is currently owned by insiders.

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.