Amalgamated Financial Corp. to Issue 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. Shareholders of record on Tuesday, August 5th will be given a dividend of 0.14 per share on Thursday, August 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, August 5th.

Amalgamated Financial has a payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ:AMAL traded down $0.45 during trading on Friday, reaching $30.06. 290,212 shares of the company's stock traded hands, compared to its average volume of 197,559. Amalgamated Financial has a fifty-two week low of $25.03 and a fifty-two week high of $38.19. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The firm has a market cap of $919.54 million, a PE ratio of 9.00 and a beta of 0.85. The company has a 50-day simple moving average of $31.29 and a 200-day simple moving average of $31.15.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.02). Amalgamated Financial had a return on equity of 15.42% and a net margin of 23.60%. The firm had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. As a group, analysts predict that Amalgamated Financial will post 3.65 earnings per share for the current year.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Amalgamated Financial by 4.6% during 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 during the last quarter. Jane Street Group LLC lifted its position in shares of Amalgamated Financial by 373.1% during the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company's stock valued at $1,273,000 after acquiring an additional 34,923 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 valued at $1,872,000 after acquiring an additional 9,500 shares during the period. Hedge funds and other institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their target price 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.

Amalgamated Financial Company Profile

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.