Amalgamated Financial Corp. (NASDAQ:AMAL) to Issue $0.12 Quarterly Dividend

Amalgamated Financial Corp. (NASDAQ:AMAL) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.12 per share on Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, November 5th.

Amalgamated Financial has increased its dividend by an average of 7.7% per year over the last three years. Amalgamated Financial has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amalgamated Financial to earn $3.39 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 14.2%.

Amalgamated Financial Trading Down 0.4 %

NASDAQ:AMAL opened at $33.98 on Thursday. The firm has a 50-day moving average price of $31.75 and a two-hundred day moving average price of $28.16. Amalgamated Financial has a 52 week low of $15.19 and a 52 week high of $35.30. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 11.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The firm had revenue of $108.22 million for the quarter, compared to the consensus estimate of $77.33 million. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts expect that Amalgamated Financial will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Amalgamated Financial

In related news, major shareholder United Canada Council Workers sold 44,577 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the transaction, the insider now owns 384,980 shares in the company, valued at $11,537,850.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

AMAL has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research report on Thursday, June 27th.

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.