Amalgamated Financial (NASDAQ:AMAL – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $77.33 million. During the same period last year, the company earned $0.72 EPS.
Amalgamated Financial Stock Up 2.9 %
NASDAQ:AMAL traded up $0.91 during trading hours on Friday, reaching $32.21. 222,713 shares of the company traded hands, compared to its average volume of 188,484. The business’s 50-day moving average price is $26.79 and its two-hundred day moving average price is $25.09. The stock has a market capitalization of $983.05 million, a P/E ratio of 10.53 and a beta of 0.94. Amalgamated Financial has a 1 year low of $15.19 and a 1 year high of $32.79. 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 Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Tuesday, August 6th. Amalgamated Financial’s payout ratio is 15.69%.
Insider Buying and Selling at Amalgamated Financial
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler restated an “overweight” rating and set a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 5th.
Get 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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