Amalgamated Financial (NASDAQ:AMAL) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Amalgamated Financial (NASDAQ:AMAL) posted its quarterly earnings data 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 business had revenue of $108.22 million during the quarter, compared to the consensus estimate of $77.33 million. During the same period last year, the company earned $0.72 earnings per share.

Amalgamated Financial Stock Performance

Shares of NASDAQ:AMAL opened at $32.21 on Friday. Amalgamated Financial has a 12-month low of $15.19 and a 12-month high of $32.79. The company’s 50 day moving average price is $26.79 and its two-hundred day moving average price is $25.09. The firm has a market cap of $983.05 million, a PE ratio of 10.53 and a beta of 0.94. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.23.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.49%. Amalgamated Financial’s payout ratio is presently 15.69%.

Analyst Upgrades and Downgrades

AMAL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price target on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $29.00 price target (up previously from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, insider Edgar Romney, Jr. sold 8,269 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $25.25, for a total transaction of $208,792.25. Following the transaction, the insider now owns 13,856 shares in the company, valued at approximately $349,864. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Edgar Romney, Jr. sold 8,269 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total value of $208,792.25. Following the completion of the transaction, the insider now directly owns 13,856 shares in the company, valued at approximately $349,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Darby sold 4,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the completion of the sale, the chief financial officer now directly owns 56,470 shares in the company, valued at approximately $1,525,819.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,263 shares of company stock worth $545,949. Company insiders own 0.90% of the company’s stock.

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.