Amalgamated Bank (AMAL)
NASDAQ:AMAL
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Amalgamated Bank
(NASDAQ:AMAL)
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Rating:77Outperform
Price Target:
$47.00
▲(8.05% Upside)
Action:Reiterated
Date:05/23/26
AMAL scores well primarily on strong financial performance (deleveraging, solid profitability, and robust cash generation). The raised 2026 guidance is supportive, but the single-borrower credit issue and near-term margin pressure add risk. Technically, the stock is in a constructive uptrend but momentum is only moderate, and valuation appears reasonable rather than deeply discounted.
Positive Factors
Balance-sheet de-risking
Material deleveraging and rising equity materially strengthen capital resilience. Lower leverage reduces sensitivity to funding shocks and regulatory strain, preserving capacity for lending, dividends, and buybacks while supporting regulatory ratios and credit availability over the next several quarters.
Negative Factors
Concentrated single‑borrower loss
A material, borrower-specific loss exposes concentration in certain CRE/multifamily exposures and highlights underwriting tail risk. Resolution timing is uncertain and could require additional reserves or credit losses, creating earnings volatility and constraining capital deployment until resolved.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet de-risking
Material deleveraging and rising equity materially strengthen capital resilience. Lower leverage reduces sensitivity to funding shocks and regulatory strain, preserving capacity for lending, dividends, and buybacks while supporting regulatory ratios and credit availability over the next several quarters.
Read all positive factors
Amalgamated Bank (AMAL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.24B
Dividend Yield1.7%
Average Volume (3M)178.76K
Price to Earnings (P/E)11.8
Beta (1Y)0.88
Revenue Growth6.23%
EPS Growth2.16%
CountryUS
Employees429
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.48
Shares Outstanding29,867,348
10 Day Avg. Volume199,829
30 Day Avg. Volume178,762
Financial Highlights & Ratios
PEG Ratio-10.65
Price to Book (P/B)1.21
Price to Sales (P/S)2.11
P/FCF Ratio7.13
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue2.80
Enterprise Value/Gross Profit4.09
Enterprise Value/Ebitda9.12
Forecast
1Y Price Target
$46.00Price Target Upside5.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.09
Revenue Forecast (FY)$370.25M
Amalgamated Bank Business Overview & Revenue Model
Company Description
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 ...
How the Company Makes Money
Amalgamated Bank primarily makes money through (1) net interest income and (2) non-interest income. Net interest income is earned from the spread between interest received on interest-earning assets—such as commercial and industrial loans, commerc...
Amalgamated Bank Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial execution: double‑digit revenue growth, deposit and loan growth, margin expansion, improved efficiency and raised 2026 guidance and balance‑sheet targets. The primary negative was a concentrated single‑borrower multifamily credit event that required a sizable specific reserve ($9.2M incremental; $11.1M on the relationship), which increased nonperforming assets and added near‑term earnings volatility and uncertainty around resolution timing. On balance, management portrays the credit action as isolated, emphasized conservative reserving, and highlighted resilient fundamentals and raised guidance.Positive Updates
Top-line Revenue Growth
Net revenue rose 9.7% year-over-year to $93.4 million, underpinning the quarter's strong performance.
Negative Updates
Single‑Borrower Multifamily Credit Event and Reserve Build
An incremental specific provision of $9.2 million was taken this quarter tied to a single multifamily borrower that moved to nonaccrual; total reserves on the relationship now total $11.1 million. The reserve build reduced EPS by $0.23 and management described the event as borrower‑specific.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-line Revenue Growth
Net revenue rose 9.7% year-over-year to $93.4 million, underpinning the quarter's strong performance.
Read all positive updates
Company Guidance
Management raised 2026 targets, boosting net interest income to about $333 million and core pre‑tax, pre‑provision earnings to $183 million, tied to a new annual balance‑sheet growth goal of ~8% (targeting roughly $9.6 billion in assets by year-end after a Q1 spot of ~$9.2 billion); they guide Q2 NII of $81–83 million, expect a modest NIM compression in Q2 from the current 3.75% before modest expansion later in the year, and maintain core expense guidance of ~$188 million (core efficiency ~49.55%), with fee income anticipated near $9.8–10.0 million per quarter and revenue per share now exceeding $3.00.Amalgamated Bank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 468.02M | 455.03M | 435.34M | 382.48M | 285.16M | 208.76M |
| Gross Profit | 320.86M | 319.80M | 306.19M | 271.05M | 251.51M | 202.83M |
| EBITDA | 143.89M | 144.97M | 151.02M | 131.13M | 118.51M | 75.57M |
| Net Income | 104.64M | 104.45M | 106.43M | 87.98M | 81.48M | 52.94M |
Balance Sheet | ||||||
| Total Assets | 9.17B | 8.87B | 8.26B | 7.97B | 7.84B | 7.08B |
| Cash, Cash Equivalents and Short-Term Investments | 11.62M | 53.16M | 1.69B | 1.57B | 1.88B | 2.44B |
| Total Debt | 81.08M | 94.06M | 334.14M | 335.57M | 698.49M | 131.99M |
| Total Liabilities | 8.36B | 8.08B | 7.55B | 7.39B | 7.33B | 6.51B |
| Stockholders Equity | 807.57M | 794.46M | 707.65M | 585.23M | 508.82M | 563.74M |
Cash Flow | ||||||
| Free Cash Flow | 148.99M | 134.40M | 122.29M | 115.75M | 145.65M | 68.14M |
| Operating Cash Flow | 158.34M | 135.78M | 124.06M | 117.22M | 147.32M | 70.54M |
| Investing Cash Flow | -758.76M | -378.02M | -315.95M | -134.41M | -1.20B | -865.41M |
| Financing Cash Flow | 714.43M | 472.70M | 162.06M | 44.21M | 788.22M | 1.09B |
Amalgamated Bank Technical Analysis
Positive
43.50
Price Trends
40.60
Positive
39.23
Positive
33.94
Positive
Market Momentum
0.20
Negative
53.61
Neutral
74.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMAL, the sentiment is Positive. The current price of 43.5 is above the 20-day moving average (MA) of 41.07, above the 50-day MA of 40.60, and above the 200-day MA of 33.94, indicating a bullish trend. The MACD of 0.20 indicates Negative momentum. The RSI at 53.61 is Neutral, neither overbought nor oversold. The STOCH value of 74.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMAL.
Amalgamated Bank Risk Analysis
Amalgamated Bank disclosed 50 risk factors in its most recent earnings report. Amalgamated Bank reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amalgamated Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.24B | 11.82 | 13.37% | 1.70% | 6.23% | 2.16% | |
76 Outperform | $1.13B | 14.53 | 7.58% | 3.91% | 8.28% | 37.82% | |
76 Outperform | $906.50M | 11.22 | 13.73% | 3.39% | 5.37% | 40.00% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $988.80M | 12.67 | 7.46% | 4.73% | 7.25% | 49.05% | |
63 Neutral | $948.57M | -6.38 | -20.89% | 3.50% | -71.38% | -406.48% | |
60 Neutral | $882.73M | 14.45 | 6.81% | 1.79% | 8.98% | ― |
* Financial Sector Average
AMAL
Amalgamated Bank
41.48
11.81
39.81%
CFFN
Capitol Federal Financial
7.77
2.37
43.97%
CPF
Central Pacific Financial
34.36
8.58
33.27%
HFWA
Heritage Financial
27.25
4.77
21.23%
HBNC
Horizon Bancorp
18.55
4.28
29.97%
AMTB
Amerant Bancorp
22.72
5.49
31.89%
Amalgamated Bank Corporate Events
Executive/Board ChangesShareholder Meetings
Amalgamated Bank Stockholders Back Directors, Pay and Auditor
Positive
May 22, 2026
Amalgamated Financial Corp. held its Annual Meeting of Stockholders on May 20, 2026, with approximately 95% of its 29.9 million outstanding common shares represented in person or by proxy. Stockholders elected 13 directors to serve until the 2027 ...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Amalgamated Bank Reports Q1 2026 Results Amid Credit Issue
Neutral
Apr 23, 2026
Amalgamated Financial Corp. reported first-quarter 2026 results on April 23, 2026, showing net income of $25.2 million, or $0.84 per diluted share, versus $26.6 million in the prior quarter, as stronger revenue was offset by higher credit provisio...
Dividends
Amalgamated Bank Board Declares Regular Quarterly Cash Dividend
Positive
Apr 21, 2026
On April 21, 2026, Amalgamated Financial Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.17 per share for common stockholders. The dividend is scheduled to be paid on May 21, 2026, to shareholders of re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.