Amalgamated Financial Corp. (AMAL) To Go Ex-Dividend on August 4th

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.17 per share on Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 4th.

Amalgamated Financial has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Amalgamated Financial has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amalgamated Financial to earn $4.49 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 15.1%.

Amalgamated Financial Stock Performance

AMAL opened at $46.96 on Thursday. The business has a 50 day moving average price of $44.11 and a two-hundred day moving average price of $40.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.65 and a beta of 0.79. Amalgamated Financial has a 1-year low of $25.13 and a 1-year high of $48.59.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%. Research analysts predict that Amalgamated Financial will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling at Amalgamated Financial

In other news, Director Maryann Bruce sold 2,089 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the sale, the director owned 19,942 shares of the company’s stock, valued at $825,399.38. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total value of $108,775.00. Following the transaction, the chief accounting officer owned 14,215 shares in the company, valued at $618,494.65. This represents a 14.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,589 shares of company stock valued at $325,139 in the last three months. 1.63% of the stock is currently owned by company insiders.

Institutional Trading of Amalgamated Financial

Several institutional investors have recently made changes to their positions in AMAL. Millennium Management LLC increased its holdings in Amalgamated Financial by 63.7% in the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after buying an additional 203,440 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Amalgamated Financial by 78.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock valued at $9,470,000 after acquiring an additional 129,585 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after acquiring an additional 120,483 shares during the last quarter. First Trust Advisors LP lifted its stake in Amalgamated Financial by 616.8% in the second quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock valued at $4,140,000 after acquiring an additional 114,171 shares during the last quarter. Finally, Credit Agricole S A bought a new stake in Amalgamated Financial in the third quarter worth approximately $2,839,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.