Amalgamated Financial (NASDAQ:AMAL – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06, Zacks reports. The business had revenue of $108.22 million for the quarter, compared to analyst estimates of $77.33 million. Amalgamated Financial had a return on equity of 16.67% and a net margin of 23.64%. During the same period in the prior year, the company posted $0.72 EPS.
Amalgamated Financial Stock Performance
AMAL traded up $0.91 during trading on Friday, reaching $32.21. 222,713 shares of the company were exchanged, compared to its average volume of 188,484. The stock has a market cap of $983.05 million, a P/E ratio of 10.53 and a beta of 0.94. The firm has a 50 day moving average of $26.79 and a 200 day moving average of $25.09. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.23. Amalgamated Financial has a 52 week low of $15.19 and a 52 week high of $32.79.
Amalgamated Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. Amalgamated Financial’s payout ratio is currently 15.69%.
Insider Buying and Selling
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th. Piper Sandler reissued an “overweight” rating and set a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price objective on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th.
Get Our Latest Stock Report on Amalgamated Financial
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.
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