Amalgamated Financial Corp. (AMAL) to Distribute Quarterly Dividend of $0.17 on August 20th

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 4th will be paid a dividend of 0.17 per share on Thursday, August 20th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 4th.

Amalgamated Financial has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 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 $4.61 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 14.8%.

Amalgamated Financial Trading Down 0.0%

AMAL opened at $49.38 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 13.17 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09. Amalgamated Financial has a 12 month low of $25.13 and a 12 month high of $50.92. The stock has a fifty day moving average price of $45.32 and a 200-day moving average price of $41.52.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.49% and a net margin of 23.34%.The firm had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. As a group, equities research analysts anticipate that Amalgamated Financial will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at Amalgamated Financial

In related news, Director Maryann Bruce sold 2,089 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total transaction of $86,463.71. Following the transaction, the director directly owned 19,942 shares in the company, valued at $825,399.38. The trade was a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Darby sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $43.30, for a total value of $129,900.00. Following the transaction, the chief financial officer directly owned 79,343 shares in the company, valued at $3,435,551.90. This represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,589 shares of company stock valued at $325,139 in the last quarter. 1.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amalgamated Financial

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 purchasing an additional 468 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Amalgamated Financial by 17.1% during 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 worth $1,872,000 after purchasing an additional 9,500 shares during the last quarter. Jane Street Group LLC grew its position in Amalgamated Financial by 373.1% during the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after purchasing an additional 34,923 shares during the last quarter. Legal & General Group Plc increased its stake in Amalgamated Financial by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock valued at $670,000 after purchasing an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Amalgamated Financial by 27.9% during the 2nd quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after purchasing an additional 7,741 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.