Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.12 per share on Wednesday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.10.
Amalgamated Financial has increased its dividend payment by an average of 7.7% per year over the last three years. Amalgamated Financial has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Amalgamated Financial to earn $3.26 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.3%.
Amalgamated Financial Stock Performance
NASDAQ AMAL traded down $0.64 during trading hours on Thursday, hitting $23.34. 16,041 shares of the stock were exchanged, compared to its average volume of 144,009. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. The company has a market cap of $711.87 million, a price-to-earnings ratio of 8.38 and a beta of 0.94. Amalgamated Financial has a 12-month low of $14.05 and a 12-month high of $27.77. The stock has a 50-day moving average of $23.20 and a 200 day moving average of $22.81.
Analysts Set New Price Targets
AMAL has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. reduced their price target on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a report on Thursday, April 4th.
Read Our Latest Report on AMAL
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.
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