Amalgamated Financial (NASDAQ:AMAL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Amalgamated Financial (NASDAQ:AMAL) announced its quarterly earnings data on Thursday. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03, Zacks reports. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $35.31 on Friday. Amalgamated Financial has a one year low of $21.33 and a one year high of $38.19. The company has a 50 day moving average price of $34.83 and a 200 day moving average price of $32.84. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be given a dividend of $0.14 per share. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.56 annualized dividend and a yield of 1.59%. Amalgamated Financial’s dividend payout ratio is 14.12%.

Insider Transactions at Amalgamated Financial

In other news, CFO Jason Darby sold 4,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the sale, the chief financial officer now owns 50,208 shares of the company’s stock, valued at $1,837,110.72. This represents a 7.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder States Regional Joint Western sold 175,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the completion of the sale, the insider now directly owns 7,558,575 shares of the company’s stock, valued at $281,481,333. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 591,849 shares of company stock valued at $21,099,252 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

AMAL has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods upped their price target 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.

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.