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Amalgamated Bank (AMAL)
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Amalgamated Bank (AMAL) AI Stock Analysis

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AMAL

Amalgamated Bank

(NASDAQ:AMAL)

Rating:76Outperform
Price Target:
$34.00
â–²(11.44%Upside)
Amalgamated Bank's overall stock score is driven by its strong financial performance and positive sentiment from recent earnings calls and corporate events. While the technical analysis indicates short-term bearishness, the bank's attractive valuation and strategic growth initiatives provide a balanced outlook.

Amalgamated Bank (AMAL) vs. SPDR S&P 500 ETF (SPY)

Amalgamated Bank Business Overview & Revenue Model

Company DescriptionAmalgamated 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. It also provides various commercial loans comprising commercial and industrial, multifamily mortgage, and commercial real estate loans; and retail loans, such as residential real estate, and consumer and other loans. In addition, the company offers online banking, bill payment, online cash management, and safe deposit box rental services; debit and ATM cards; and trust, custody, and investment management services comprising asset safekeeping, corporate actions, income collections, proxy, account transition, asset transfers, and conversion management services. Further, it provides investment products, such as equity, fixed-income, real estate, and alternative investment products; and brokerage, asset management, and insurance products. The company operates through its three branch offices across New York City, one branch office in Washington, D.C., one branch office in San Francisco, one commercial office in Boston, and digital banking platform. Amalgamated Financial Corp. was founded in 1923 and is headquartered in New York, New York.
How the Company Makes MoneyAmalgamated Bank generates revenue primarily through interest income and non-interest income. Interest income is derived from loans extended to consumers and businesses, including mortgages, commercial loans, and lines of credit. Non-interest income is generated from fees and service charges related to banking products, such as account maintenance fees, transaction fees, and investment management fees. Additionally, Amalgamated Bank benefits from strategic partnerships with organizations and initiatives aligned with its values, which enhance its brand reputation and contribute to customer growth. The bank also invests in a diversified portfolio of securities, which provides another stream of income through interest and dividends.

Amalgamated Bank Earnings Call Summary

Earnings Call Date:Jul 24, 2025
(Q2-2025)
|
% Change Since: -8.16%|
Next Earnings Date:Oct 23, 2025
Earnings Call Sentiment Neutral
Amalgamated Financial's earnings call highlighted strong earnings performance, significant deposit growth, and recognition as a top-performing bank, indicating positive momentum. However, challenges remain with certain loan portfolios and non-performing assets.
Q2-2025 Updates
Positive Updates
Strong Earnings Performance
Amalgamated delivered solid results with core earnings per share of $0.88, indicating strong profitability and performance in comparison to peers.
Significant Deposit Growth
Deposits grew by $209 million, excluding temporary pension funding deposits, with notable increases in political deposits by $137 million (13%) and not-for-profit segment deposits by over $100 million.
Loan Portfolio Expansion
The loan portfolio grew at a 10% compound annual growth rate from $3.1 billion in Q2 2021 to $4.7 billion by Q2 2025, with the PACE portfolio growing at a 22% compound annual growth rate.
Recognition for Bank Performance
Amalgamated was ranked #38 out of 338 banks in the American Banker's top-performing banks list and was the #1 most improved bank in the top 100, moving up nearly 50 spots in a year.
Negative Updates
Challenges with Consumer Solar and Residential Loans
The consumer solar and residential real estate loan portfolios are in runoff mode, leading to declines and impacting overall loan growth targets.
Non-Performing Assets Increase
Non-performing assets increased to $35.2 million, with net charge-offs including $2.6 million in consumer solar loans.
Specific C&I Loan Stress
A commercial and industrial loan to a consumer loan originator for renewable energy efficiency improvements required increased reserves due to a fluid workout situation.
Company Guidance
In the Amalgamated Financial Second Quarter 2025 Earnings Call, the company provided guidance highlighting continued strong performance despite external pressures. The company reported core earnings per share of $0.88, with a net income of $26 million or $0.84 per diluted share. On-balance sheet deposits grew by $209 million, excluding $112 million of temporary deposits, contributing to a total deposit increase to $7.6 billion. Political deposits saw a notable rise, increasing by $137 million to $1.2 billion. Loan growth was recorded at $60 million across multifamily, commercial real estate (CRE), and commercial and industrial (C&I) portfolios, resulting in a 2% increase, despite challenges in consumer solar and residential real estate loans. The bank maintained a net interest margin of 3.55% and a leverage ratio target of 9.2%. The tangible book value per share increased by 3.5% to $24.33, with a core return on average equity of 14.61%. The bank's CET1 ratio remained strong at 14.13%, and it executed the largest share repurchase in its history. It also announced a $0.14 per common share dividend, aiming for a total payout ratio of 20% to 25%. The company maintained full-year 2025 guidance for core pretax pre-provision earnings between $159 million to $163 million and net interest income between $293 million to $297 million, with an expectation of modest balance sheet growth and margin expansion in the second half of the year.

Amalgamated Bank Financial Statement Overview

Summary
Amalgamated Bank exhibits strong financial health across income, balance sheet, and cash flow statements. The bank's consistent revenue growth and impressive profitability metrics highlight its operational efficiency. Conservative debt levels and a solid return on equity further reinforce the bank's stable financial position. Effective cash generation and management ensure robust liquidity.
Income Statement
85
Very Positive
Amalgamated Bank demonstrates strong financial performance with consistent revenue growth and improving profitability metrics. The TTM (Trailing-Twelve-Months) Gross Profit Margin is robust at 70.6%, and the Net Profit Margin stands at an impressive 23.7%. Revenue growth is solid, with TTM revenue increasing by 1% from the previous annual period. EBIT and EBITDA margins are also healthy at 32.2% and 33.1%, respectively, indicating efficient operations. The income statement reflects a stable and profitable growth trajectory.
Balance Sheet
78
Positive
The balance sheet is sound, with a manageable Debt-to-Equity Ratio of 0.12, reflecting conservative leverage levels and financial stability. Return on Equity (ROE) is strong at 14.2%, showcasing effective utilization of equity. The Equity Ratio of 8.9% indicates a reliance on liabilities, but it remains within industry norms. Overall, the balance sheet portrays a stable financial position with controlled risk exposure.
Cash Flow
82
Very Positive
Cash flow performance is solid, characterized by a strong Free Cash Flow growth of 1.1% over the previous annual period. The Operating Cash Flow to Net Income Ratio stands at 1.22, suggesting effective cash conversion. Additionally, the Free Cash Flow to Net Income Ratio of 1.19 underscores Amalgamated Bank's ability to generate cash relative to net income. The cash flow statement reflects strong liquidity and effective cash management.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue435.34M382.48M285.16M208.76M223.69M
Gross Profit306.19M271.05M251.51M202.54M188.42M
EBITDA151.02M131.13M118.51M75.57M69.51M
Net Income106.43M87.98M81.48M52.94M46.19M
Balance Sheet
Total Assets8.26B7.97B7.84B7.08B5.98B
Cash, Cash Equivalents and Short-Term Investments1.69B1.57B1.88B2.44B1.58B
Total Debt334.14M335.57M698.49M131.99M53.17M
Total Liabilities7.55B7.39B7.33B6.51B5.44B
Stockholders Equity707.65M585.23M508.82M563.74M535.69M
Cash Flow
Free Cash Flow122.29M115.75M145.65M68.14M64.16M
Operating Cash Flow124.06M117.22M147.32M70.54M65.77M
Investing Cash Flow-315.95M-134.41M-1.20B-865.41M-755.14M
Financing Cash Flow162.06M44.21M788.22M1.09B605.60M

Amalgamated Bank Technical Analysis

Technical Analysis Sentiment
Negative
Last Price30.51
Price Trends
50DMA
31.30
Negative
100DMA
29.87
Positive
200DMA
32.04
Negative
Market Momentum
MACD
0.36
Positive
RSI
39.15
Neutral
STOCH
39.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMAL, the sentiment is Negative. The current price of 30.51 is below the 20-day moving average (MA) of 32.61, below the 50-day MA of 31.30, and below the 200-day MA of 32.04, indicating a bearish trend. The MACD of 0.36 indicates Positive momentum. The RSI at 39.15 is Neutral, neither overbought nor oversold. The STOCH value of 39.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
80
Outperform
$1.01B11.2311.99%3.37%10.94%17.66%
76
Outperform
$933.29M9.9414.78%1.70%6.94%3.96%
73
Outperform
$1.25B13.586.21%2.89%2.27%-2.50%
72
Outperform
$926.36M10.6411.03%4.70%9.34%8.12%
62
Neutral
$855.14M11.539.02%2.87%5.97%12.97%
61
Neutral
C$15.12B7.0623.28%5.39%33.61%-23.38%
56
Neutral
$913.56M12.6310.45%3.90%37.59%969.87%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AMAL
Amalgamated Bank
30.51
-0.27
-0.88%
SBSI
Southside Bancshares
30.66
-2.21
-6.72%
TMP
Tompkins Financial Corporation
63.29
2.09
3.42%
UVSP
Univest Of Pennsylvania
29.61
2.27
8.30%
CTBI
Community Bancorp
55.82
6.54
13.27%
CNOB
ConnectOne Bancorp
24.35
0.68
2.87%

Amalgamated Bank Corporate Events

Stock BuybackFinancial Disclosures
Amalgamated Bank Reports Strong Q2 2025 Results
Positive
Jul 24, 2025

Amalgamated Financial Corp. reported its financial results for the second quarter of 2025, highlighting a net income of $26.0 million and a stable net interest margin of 3.55%. The company saw significant growth in deposits, particularly political deposits, and a slight increase in net loans receivable. Despite an increase in provision for credit losses, the company maintained strong capital ratios and continued its share repurchase program. The results reflect the company’s flexible banking model, which supports reliability and predictability for stakeholders.

The most recent analyst rating on (AMAL) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Amalgamated Bank stock, see the AMAL Stock Forecast page.

Dividends
Amalgamated Bank Declares Quarterly Dividend Announcement
Positive
Jul 22, 2025

On July 22, 2025, Amalgamated Financial Corp. announced that its Board of Directors declared a quarterly dividend of $0.14 per share, payable on August 21, 2025, to shareholders of record on August 5, 2025. This announcement reflects the company’s ongoing commitment to providing returns to its shareholders and may influence investor sentiment positively, reinforcing its stable financial position within the banking industry.

The most recent analyst rating on (AMAL) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Amalgamated Bank stock, see the AMAL Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Amalgamated Bank Expands Board with Two New Appointments
Positive
Jul 1, 2025

On July 1, 2025, Amalgamated Financial Corp. announced the expansion of its Board of Directors from eleven to thirteen members, appointing Steven SaLoutos and Royce Anthony Wells to fill the new positions. Both bring decades of experience in banking and other regulated industries, with SaLoutos serving as CFO of ProSight Financial Association and Wells as a Venture Partner at AZ-VC. Their appointments are expected to enhance the board’s strategic capabilities and align with Amalgamated’s focus on profitability and social impact. The new directors will receive compensation in the form of restricted stock units, which vest after one year.

The most recent analyst rating on (AMAL) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Amalgamated Bank stock, see the AMAL Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Amalgamated Bank Holds Annual Stockholders Meeting
Neutral
May 28, 2025

On May 21, 2025, Amalgamated Financial Corp. held its Annual Meeting of Stockholders, where 91.22% of the total outstanding shares were represented. During the meeting, stockholders voted to elect 11 directors, approved the compensation of the company’s executive officers, and ratified Crowe LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

The most recent analyst rating on (AMAL) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Amalgamated Bank stock, see the AMAL Stock Forecast page.

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.Date of analysis: Jul 25, 2025