Amalgamated Financial Corp. (NASDAQ:AMAL) Announces $0.17 Quarterly Dividend

Amalgamated Financial Corp. (NASDAQ:AMAL) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 4th will be paid a dividend of 0.17 per share on Thursday, August 20th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 4th.

Amalgamated Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Amalgamated Financial has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Amalgamated Financial to earn $4.49 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 15.1%.

Amalgamated Financial Trading Up 0.8%

NASDAQ:AMAL opened at $47.56 on Wednesday. The stock’s 50 day moving average price is $43.97 and its 200 day moving average price is $40.69. Amalgamated Financial has a 52 week low of $25.13 and a 52 week high of $48.59. The company has a market capitalization of $1.42 billion, a P/E ratio of 13.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $91.16 million. On average, research analysts forecast that Amalgamated Financial will post 3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Amalgamated Financial from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.00.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.