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

Key Points

• Amalgamated Financial declared a quarterly dividend of $0.17 per share, payable on August 20 to shareholders of record on August 4. The stock’s dividend yield is about 1.4%.
• The company has raised its dividend annually for four straight years and maintains a low 16.0% payout ratio, suggesting the dividend is well covered by earnings.
• AMAL shares were up 0.8% and opened at $47.56, near their 52-week high of $48.59. The company also reported its latest quarterly earnings with $0.80 EPS, below analyst expectations of $0.95.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 4th will be given 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%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Amalgamated Financial has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Equities 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%

Shares of AMAL stock opened at $47.56 on Wednesday. The business's fifty day moving average price is $43.97 and its 200 day moving average price is $40.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $1.42 billion, a PE ratio of 13.83 and a beta of 0.79. Amalgamated Financial has a 1-year low of $25.13 and a 1-year high of $48.59.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.15). The company had revenue of $91.36 million during the quarter, compared to analyst estimates of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. As a group, sell-side analysts forecast that Amalgamated Financial will post 3.92 EPS for the current fiscal year.

Insider Activity at Amalgamated Financial

In other news, CAO Leslie Veluswamy sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total value of $108,775.00. Following the sale, the chief accounting officer owned 14,215 shares in the company, valued at approximately $618,494.65. This represents a 14.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Darby sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $43.30, for a total value of $129,900.00. Following the sale, the chief financial officer owned 79,343 shares in the company, valued at $3,435,551.90. The trade was a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 7,589 shares of company stock valued at $325,139. Insiders own 1.63% of the company's stock.

Hedge Funds Weigh In On Amalgamated Financial

A number of large investors have recently bought and sold shares of AMAL. Osaic Holdings Inc. lifted its stake in Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock valued at $34,000 after buying an additional 391 shares during the last quarter. Arax Advisory Partners raised its position in Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock worth $41,000 after acquiring an additional 827 shares in the last quarter. Royal Bank of Canada lifted its stake in Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock valued at $57,000 after purchasing an additional 876 shares during the last quarter. CWM LLC lifted its position in shares of Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $60,000 after acquiring an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Amalgamated Financial by 140.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock valued at $63,000 after purchasing an additional 1,177 shares during the period. Institutional investors own 75.93% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.