Amalgamated Financial Corp. (NASDAQ:AMAL) Plans $0.14 Quarterly Dividend

Key Points

• Amalgamated Financial Corp. announced a quarterly dividend of $0.14 per share, payable on November 20th, with an ex-dividend date of November 5th, representing a 2.1% dividend yield.
• The company has a low payout ratio of 13.2%, indicating that its dividend is well-covered by earnings, and it is projected to earn $4.00 per share next year.
• Recent analyst ratings show a shift in sentiment, with Piper Sandler downgrading the stock from "neutral" to "underweight" and lowering its price target from $34.00 to $27.00.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) announced a quarterly dividend on Tuesday, October 21st. Investors of record on Wednesday, November 5th will be paid a dividend of 0.14 per share on Thursday, November 20th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 5th.

Amalgamated Financial has a payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amalgamated Financial to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 14.0%.

Amalgamated Financial Stock Performance

Shares of Amalgamated Financial stock opened at $26.70 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. Amalgamated Financial has a twelve month low of $25.03 and a twelve month high of $38.19. The stock has a market cap of $803.94 million, a price-to-earnings ratio of 7.99 and a beta of 0.86. The company's fifty day moving average is $28.02 and its 200 day moving average is $29.24.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data on Monday, December 19th. The company reported $0.46 earnings per share for the quarter. The company had revenue of $49.68 million for the quarter. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. Sell-side analysts forecast that Amalgamated Financial will post 3.65 EPS for the current year.

Analyst Ratings Changes

AMAL has been the subject of several recent research reports. Piper Sandler cut Amalgamated Financial from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Amalgamated Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Amalgamated Financial presently has an average rating of "Hold" and an average price target of $33.00.

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.

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