Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.12 per share on Wednesday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.04%. 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 raised 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 research 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 Stock Down 1.8 %
Shares of NASDAQ AMAL traded down $0.42 during trading on Thursday, reaching $23.56. The company had a trading volume of 26,639 shares, compared to its average volume of 144,100. Amalgamated Financial has a 12-month low of $14.05 and a 12-month high of $27.77. The stock has a market cap of $718.58 million, a PE ratio of 8.24 and a beta of 0.94. The business’s 50-day moving average is $23.20 and its 200 day moving average is $22.82. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.52.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on AMAL. Keefe, Bruyette & Woods lowered their price target on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 5th. JPMorgan Chase & Co. lowered their target price on Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a report on Thursday, April 4th.
Get Our Latest Stock Report on Amalgamated Financial
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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