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

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, RTT News reports. Stockholders of record on Tuesday, August 5th will be given a dividend of 0.14 per share on Monday, July 21st. This represents a $0.56 annualized dividend and a dividend yield of 1.71%.

Amalgamated Financial has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.9%

Shares of AMAL traded down $0.29 during mid-day trading on Tuesday, hitting $32.81. 191,183 shares of the company's stock traded hands, compared to its average volume of 198,470. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. Amalgamated Financial has a 1 year low of $25.03 and a 1 year high of $38.19. The firm has a market capitalization of $1.00 billion, a P/E ratio of 9.74 and a beta of 0.85. The business's 50-day moving average price is $31.19 and its 200-day moving average price is $31.14.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.88 earnings per share for the quarter, meeting the consensus estimate of $0.88. Amalgamated Financial had a return on equity of 15.68% and a net margin of 23.99%. The company had revenue of $79.69 million for the quarter, compared to analyst estimates of $74.78 million. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, sell-side analysts forecast that Amalgamated Financial will post 3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Amalgamated Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Amalgamated Financial by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company's stock worth $1,872,000 after buying an additional 9,500 shares in the last quarter. Jane Street Group LLC grew its position in shares of Amalgamated Financial by 373.1% in the first quarter. Jane Street Group LLC now owns 44,284 shares of the company's stock valued at $1,273,000 after purchasing an additional 34,923 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock valued at $306,000 after purchasing an additional 468 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their price objective on Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a research report on Friday, April 25th.

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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