Amalgamated Financial Corp. (AMAL) to Issue Quarterly Dividend of $0.12 on November 21st

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors 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 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 by an average of 7.7% per year over the last three years. Amalgamated Financial has a 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 Trading Down 0.4 %

AMAL opened at $33.98 on Thursday. The firm’s fifty day moving average is $31.75 and its two-hundred day moving average is $28.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $1.04 billion, a PE ratio of 11.10 and a beta of 0.92. Amalgamated Financial has a twelve month low of $15.19 and a twelve month high of $35.30.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $108.22 million for 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. Equities research analysts anticipate that Amalgamated Financial will post 3.33 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 44,577 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total value of $1,335,972.69. Following the sale, the insider now directly owns 384,980 shares in the company, valued at approximately $11,537,850.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.