Amalgamated Financial Corp. Announces Quarterly Dividend of $0.12 (NASDAQ:AMAL)

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

Amalgamated Financial has increased its dividend payment by an average of 7.7% annually over the last three years. Amalgamated Financial has a dividend payout ratio of 14.1% meaning 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 Stock Down 0.4 %

Shares of Amalgamated Financial stock opened at $33.98 on Thursday. The company has a market cap of $1.04 billion, a P/E 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 has a one year low of $15.19 and a one year high of $35.30. The firm has a fifty day moving average of $31.75 and a two-hundred day moving average of $28.16.

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

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the completion of the transaction, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.