Amalgamated Financial (NASDAQ:AMAL) Issues Quarterly Earnings Results

Amalgamated Financial (NASDAQ:AMAL) posted its earnings results on Thursday. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08, Zacks reports. The firm had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. During the same quarter last year, the firm earned $0.76 EPS.

Amalgamated Financial Stock Performance

AMAL traded up $0.23 during midday trading on Friday, reaching $33.76. The company had a trading volume of 195,218 shares, compared to its average volume of 145,026. The business has a 50-day moving average price of $31.90 and a two-hundred day moving average price of $28.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 0.63. Amalgamated Financial has a 12-month low of $15.33 and a 12-month high of $35.30. The stock has a market cap of $1.03 billion, a PE ratio of 11.03 and a beta of 0.92.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is 15.69%.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 44,577 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the completion of the transaction, the insider now directly owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

About Amalgamated Financial

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.