Amalgamated Financial (NASDAQ:AMAL) Issues Quarterly Earnings Results

Amalgamated Financial (NASDAQ:AMAL) announced its quarterly earnings data on Thursday. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03, Zacks reports. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%.

Amalgamated Financial Stock Performance

Shares of AMAL stock opened at $36.60 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $34.87 and a 200 day moving average of $32.76. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.76 and a beta of 0.93. Amalgamated Financial has a 52 week low of $21.33 and a 52 week high of $38.19.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio is currently 14.12%.

Insiders Place Their Bets

In related news, major shareholder States Regional Joint Western sold 63,004 shares of Amalgamated Financial stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $32.81, for a total transaction of $2,067,161.24. Following the sale, the insider now directly owns 423,022 shares in the company, valued at $13,879,351.82. The trade was a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason Darby sold 4,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the transaction, the chief financial officer now owns 50,208 shares of the company’s stock, valued at approximately $1,837,110.72. This trade represents a 7.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 591,849 shares of company stock worth $21,099,252. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMAL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler raised their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

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.