Amalgamated Financial (NASDAQ:AMAL – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06, Zacks reports. Amalgamated Financial had a return on equity of 16.67% and a net margin of 23.64%. The firm had revenue of $108.22 million for the quarter, compared to analyst estimates of $77.33 million. During the same period in the previous year, the company posted $0.72 earnings per share.
Amalgamated Financial Trading Up 2.9 %
Shares of AMAL stock opened at $32.21 on Friday. Amalgamated Financial has a twelve month low of $15.19 and a twelve month high of $32.79. The stock has a market cap of $983.05 million, a price-to-earnings ratio of 10.53 and a beta of 0.94. The company’s 50-day moving average price is $26.79 and its 200-day moving average price is $25.09. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.23.
Amalgamated Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. Amalgamated Financial’s dividend payout ratio is presently 15.69%.
Insiders Place Their Bets
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on AMAL shares. JPMorgan Chase & Co. raised their price objective on Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a report on Thursday, June 27th. Keefe, Bruyette & Woods decreased their price target on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up previously from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th.
Read Our Latest Analysis on Amalgamated Financial
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.
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