Amalgamated Financial Corp. (AMAL) to Issue Quarterly Dividend of $0.17 on May 21st

Amalgamated Financial Corp. (NASDAQ:AMAL) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Tuesday, May 5th will be given a dividend of 0.17 per share on Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 5th.

Amalgamated Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Amalgamated Financial has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 1.1%

NASDAQ AMAL opened at $41.34 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.23 billion, a PE ratio of 12.02 and a beta of 0.81. The company has a 50 day moving average price of $39.68 and a 200 day moving average price of $35.05. Amalgamated Financial has a 52 week low of $25.13 and a 52 week high of $44.01.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.15). The firm had revenue of $91.36 million for the quarter, compared to the consensus estimate of $91.16 million. Amalgamated Financial had a return on equity of 14.04% and a net margin of 22.33%. As a group, sell-side analysts forecast that Amalgamated Financial will post 3.92 EPS for the current fiscal year.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 748 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $40.02, for a total transaction of $29,934.96. Following the sale, the executive vice president owned 22,307 shares of the company’s stock, valued at approximately $892,726.14. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Tyrone Graham sold 2,285 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $39.91, for a total transaction of $91,194.35. Following the sale, the executive vice president directly owned 13,443 shares in the company, valued at approximately $536,510.13. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,482 shares of company stock worth $335,658. 1.63% of the stock is owned by insiders.

Institutional Trading of Amalgamated Financial

Several large investors have recently made changes to their positions in AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amalgamated Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after acquiring an additional 468 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Amalgamated Financial by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after acquiring an additional 9,500 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Amalgamated Financial by 373.1% in the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after acquiring an additional 34,923 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Amalgamated Financial by 11.6% in the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock valued at $670,000 after acquiring an additional 2,231 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Amalgamated Financial by 27.9% in the 2nd quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after acquiring an additional 7,741 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.