Amalgamated Financial (NASDAQ:AMAL) Releases Earnings Results, Beats Estimates By $0.03 EPS

Amalgamated Financial (NASDAQ:AMAL) announced its quarterly earnings data on Thursday. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03, Zacks reports. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%.

Amalgamated Financial Trading Down 4.9 %

Shares of NASDAQ AMAL opened at $34.80 on Friday. The firm has a 50 day moving average price of $34.87 and a two-hundred day moving average price of $32.76. The stock has a market cap of $1.07 billion, a P/E ratio of 10.24 and a beta of 0.93. Amalgamated Financial has a 52-week low of $21.33 and a 52-week high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, February 11th. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.61%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMAL shares. Keefe, Bruyette & Woods increased their target price on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.59, for a total transaction of $146,360.00. Following the transaction, the chief financial officer now directly owns 50,208 shares of the company’s stock, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sean Searby sold 8,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total value of $273,120.00. Following the completion of the sale, the executive vice president now directly owns 15,802 shares of the company’s stock, valued at approximately $539,480.28. The trade was a 33.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 591,849 shares of company stock valued at $21,099,252 over the last 90 days. 0.90% of the stock is owned by insiders.

Amalgamated Financial Company Profile

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.