Amalgamated Financial Corp. (NASDAQ:AMAL) Increases Dividend to $0.12 Per Share

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.12 per share on Wednesday, May 22nd. This represents a $0.48 annualized dividend and a yield of 2.01%. The ex-dividend date is Tuesday, May 7th. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.10.

Amalgamated Financial has increased its dividend payment by an average of 7.7% annually over the last three years. Amalgamated Financial has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Amalgamated Financial to earn $3.26 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.3%.

Amalgamated Financial Trading Down 0.4 %

Shares of AMAL traded down $0.09 during trading hours on Thursday, hitting $23.89. 124,906 shares of the stock were exchanged, compared to its average volume of 145,415. Amalgamated Financial has a fifty-two week low of $14.05 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $23.20 and a 200-day moving average of $22.82. The firm has a market capitalization of $728.65 million, a P/E ratio of 8.27 and a beta of 0.94.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Amalgamated Financial had a return on equity of 16.60% and a net margin of 22.71%. The firm had revenue of $105.39 million for the quarter, compared to analyst estimates of $71.59 million. During the same quarter last year, the company earned $0.83 earnings per share. On average, research analysts expect that Amalgamated Financial will post 3.07 EPS for the current year.

Wall Street Analyst Weigh In

AMAL has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Amalgamated Financial from $33.00 to $29.50 and set an "overweight" rating for the company in a research report on Thursday, April 4th. Keefe, Bruyette & Woods dropped their target price on shares of Amalgamated Financial from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 5th.

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.