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

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders 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 dividend yield of 1.46%. The ex-dividend date 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 payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Amalgamated Financial to earn $3.48 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 13.8%.

Amalgamated Financial Stock Performance

Amalgamated Financial stock opened at $32.84 on Monday. Amalgamated Financial has a twelve month low of $18.17 and a twelve month high of $35.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $32.17 and its 200 day moving average is $28.72. The company has a market capitalization of $1.01 billion, a P/E ratio of 9.66 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.53%. During the same period last year, the business earned $0.76 EPS. On average, equities research analysts predict that Amalgamated Financial will post 3.46 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Regional Joint Board Rochester sold 55,875 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the transaction, the insider now owns 355,893 shares in the company, valued at $12,214,247.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Regional Joint Board Rochester sold 55,875 shares of Amalgamated Financial stock in a transaction on Monday, October 28th. The stock was sold at an average price of $34.32, for a total value of $1,917,630.00. Following the completion of the sale, the insider now owns 355,893 shares of the company’s stock, valued at $12,214,247.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction 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 owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,424 shares of company stock valued at $7,702,502 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

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.