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

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, April 21st. Shareholders 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 yield of 1.6%. The ex-dividend date of this dividend is Tuesday, May 5th.

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 dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Amalgamated Financial to earn $4.57 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 14.9%.

Amalgamated Financial Stock Down 1.2%

AMAL opened at $43.08 on Wednesday. The business has a 50 day moving average price of $39.64 and a two-hundred day moving average price of $34.41. 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 company has a market cap of $1.29 billion, a PE ratio of 12.63 and a beta of 0.82. 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, January 22nd. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.91 by $0.08. The firm had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. Amalgamated Financial had a return on equity of 14.60% and a net margin of 23.05%. As a group, research analysts anticipate that Amalgamated Financial will post 4.06 EPS for the current year.

Insider Buying and Selling

In other news, EVP Sean Searby sold 4,948 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $39.42, for a total transaction of $195,050.16. Following the completion of the transaction, the executive vice president directly owned 23,055 shares of the company’s stock, valued at approximately $908,828.10. This represents a 17.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Tyrone Graham sold 2,285 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $39.91, for a total value of $91,194.35. Following the transaction, the executive vice president directly owned 13,443 shares of the company’s stock, valued at approximately $536,510.13. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 8,482 shares of company stock valued at $335,658. Company insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Amalgamated Financial

A number of large investors have recently modified their holdings of the business. Millennium Management LLC grew its holdings in shares of Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after acquiring an additional 203,440 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Amalgamated Financial by 78.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock worth $9,470,000 after acquiring an additional 129,585 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Amalgamated Financial by 14.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after acquiring an additional 120,483 shares during the period. First Trust Advisors LP grew its holdings in shares of Amalgamated Financial by 616.8% in the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock worth $4,140,000 after acquiring an additional 114,171 shares during the period. Finally, Credit Agricole S A acquired a new stake in Amalgamated Financial during the 3rd quarter valued at $2,839,000. 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.