Amalgamated Financial (NASDAQ:AMAL - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.08, Zacks reports. The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same period in the previous year, the business earned $0.76 earnings per share.
Amalgamated Financial Trading Up 0.7 %
NASDAQ AMAL traded up $0.23 on Friday, reaching $33.76. The company had a trading volume of 195,218 shares, compared to its average volume of 145,026. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. Amalgamated Financial has a 52 week low of $15.33 and a 52 week high of $35.30. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 11.03 and a beta of 0.92. The stock's 50 day moving average is $31.83 and its 200-day moving average is $28.20.
Amalgamated Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. Amalgamated Financial's dividend payout ratio (DPR) is presently 15.69%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on AMAL shares. JPMorgan Chase & Co. raised their price target on Amalgamated Financial from $31.50 to $32.50 and gave the company an "overweight" rating in a report on Thursday, June 27th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $35.00 price target (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.
View Our Latest Report on AMAL
Insider Transactions at Amalgamated Financial
In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the sale, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.
Amalgamated Financial Company Profile
(
Get Free Report)
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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