Amalgamated Financial (NASDAQ:AMAL) Posts Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Amalgamated Financial reported earnings per share (EPS) of $0.88 for the quarter, missing the analysts' consensus estimate by $0.02.
• The company's stock fell by 1.5% to $30.06 following the earnings announcement, with significant trading volume of 290,212 shares.
• Amalgamated Financial declared a quarterly dividend of $0.14 per share, yielding 1.86%, with a dividend payout ratio of 16.77%.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.02), Zacks reports. The business had revenue of $82.18 million during the quarter, compared to analyst estimates of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.42%.

Amalgamated Financial Stock Down 1.5%

AMAL stock traded down $0.45 during trading on Friday, reaching $30.06. 290,212 shares of the stock were exchanged, compared to its average volume of 197,559. The firm's 50 day moving average is $31.28 and its 200 day moving average is $31.12. Amalgamated Financial has a twelve month low of $25.03 and a twelve month high of $38.19. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.09. The firm has a market cap of $919.54 million, a P/E ratio of 9.00 and a beta of 0.85.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Tuesday, August 5th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, August 5th. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.77%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMAL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Amalgamated Financial by 17.1% in the first 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 in the last quarter. Jane Street Group LLC grew 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 valued at $1,273,000 after acquiring an additional 34,923 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $306,000 after acquiring an additional 468 shares in the last quarter. Institutional investors own 75.93% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on 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.

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