Amalgamated Financial Corp. (NASDAQ:AMAL) Declares Quarterly Dividend of $0.17

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, January 20th. Stockholders of record on Tuesday, February 3rd will be given a dividend of 0.17 per share on Thursday, February 19th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, February 3rd. This is a 21.4% increase from Amalgamated Financial’s previous quarterly dividend of $0.14.

Amalgamated Financial has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Amalgamated Financial has a 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 Up 4.1%

Shares of AMAL traded up $1.38 during trading hours on Wednesday, reaching $35.22. 15,523 shares of the stock traded hands, compared to its average volume of 200,662. Amalgamated Financial has a 52 week low of $25.03 and a 52 week high of $37.26. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $31.56 and a 200 day simple moving average of $29.77. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 10.61 and a beta of 0.82.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $86.41 million for the quarter, compared to analysts’ expectations of $83.33 million. Amalgamated Financial had a return on equity of 14.75% and a net margin of 22.97%. On average, equities analysts forecast that Amalgamated Financial will post 3.65 EPS for the current year.

Wall Street Analysts Forecast Growth

AMAL has been the topic of a number of analyst reports. Piper Sandler raised shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $27.00 to $28.00 in a report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Amalgamated Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.50.

Amalgamated Financial Company Profile

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.