Amalgamated Financial (NASDAQ:AMAL – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06, Zacks reports. The business had revenue of $108.22 million for the quarter, compared to analysts’ expectations of $77.33 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.67%. During the same period last year, the business earned $0.72 EPS.
Amalgamated Financial Stock Performance
AMAL traded up $0.91 during trading on Friday, reaching $32.21. 222,713 shares of the company’s stock were exchanged, compared to its average volume of 188,484. Amalgamated Financial has a 1 year low of $15.19 and a 1 year high of $32.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $983.05 million, a P/E ratio of 10.53 and a beta of 0.94. The company’s fifty day simple moving average is $26.79 and its 200-day simple moving average is $25.09.
Amalgamated Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, August 6th. Amalgamated Financial’s payout ratio is currently 15.69%.
Insiders Place Their Bets
Analyst Ratings Changes
Several equities analysts recently commented on AMAL shares. Keefe, Bruyette & Woods decreased 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 report on Friday, April 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their price objective 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.
Check Out Our Latest Research Report on AMAL
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.
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