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

Key Points

• Amalgamated Financial declared a quarterly dividend of $0.17 per share payable on May 21 to holders of record on May 5, equal to a $0.68 annual payout and roughly a 1.6% yield.
• The dividend appears well-covered with a low payout ratio (~16% now, expected ~14.9% next year) after the company beat quarterly EPS estimates ($0.99 vs. $0.91) and analysts hold a consensus "Moderate Buy" rating with a $40 price target.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Tuesday, May 5th will be given a dividend of 0.17 per share on Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 5th.

Amalgamated Financial has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Amalgamated Financial has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amalgamated Financial to earn $4.57 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 14.9%.

Amalgamated Financial Price Performance

AMAL stock opened at $43.08 on Wednesday. The company has a market capitalization of $1.29 billion, a P/E ratio of 12.63 and a beta of 0.82. Amalgamated Financial has a twelve month low of $25.13 and a twelve month high of $44.01. The business has a 50 day simple moving average of $39.64 and a 200-day simple moving average of $34.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.09.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. Amalgamated Financial had a return on equity of 14.60% and a net margin of 23.05%. As a group, equities analysts anticipate that Amalgamated Financial will post 4.06 EPS for the current year.

Analyst Ratings Changes

AMAL has been the subject of several research analyst reports. Piper Sandler initiated coverage on Amalgamated Financial in a report on Monday, March 16th. They issued a "neutral" rating and a $41.00 price objective for the company. Weiss Ratings raised Amalgamated Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Amalgamated Financial Company Profile

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.

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