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

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) announced a quarterly dividend on Tuesday, July 22nd, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, August 5th.

Amalgamated Financial has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. 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 NASDAQ AMAL traded down $2.71 during trading on Thursday, reaching $30.51. 271,226 shares of the stock traded hands, compared to its average volume of 192,542. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $933.30 million, a P/E ratio of 9.05 and a beta of 0.85. Amalgamated Financial has a 52-week low of $25.03 and a 52-week high of $38.19. The company has a 50-day moving average of $31.29 and a 200-day moving average of $31.15.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.02). The business had revenue of $82.18 million for the quarter, compared to analysts' expectations of $82.52 million. Amalgamated Financial had a net margin of 23.99% and a return on equity of 15.68%. Analysts forecast that Amalgamated Financial will post 3.65 EPS for the current fiscal year.

Institutional Trading of Amalgamated Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Amalgamated Financial by 17.1% in 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 purchasing an additional 9,500 shares during the period. Jane Street Group LLC lifted its holdings 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 worth $1,273,000 after buying an additional 34,923 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $306,000 after buying an additional 468 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating on the stock in a research note 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.