Amalgamated Financial Corp. operates as a bank holding company for Amalgamated Bank that provides commercial banking and trust services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest and interest-bearing demand accounts, savings and 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, prepaid, 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. It serves advocacy-based non-profits, social welfare organizations, labor unions, political organizations, foundations, sustainability-focused, socially responsible businesses, and other for-profit companies, as well as their members and stakeholders. The company operates a network of six branches in New York City, Washington D.C., San Francisco, and Boston; and a digital banking and mobile platform. Amalgamated Financial Corp. was founded in 1923 and is headquartered in New York, New York.
IPO Year: 2018
Exchange: NASDAQ
Website: amalgamatedbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/12/2023 | $29.00 | Neutral → Overweight | JP Morgan |
| 11/2/2021 | $18.00 → $20.00 | Outperform | Raymond James |
| 11/1/2021 | $19.00 → $21.00 | Overweight | Barclays |
| 9/23/2021 | $17.50 → $19.00 | Overweight | Piper Sandler |
10-Q - Amalgamated Financial Corp. (0001823608) (Filer)
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10-Q - Amalgamated Financial Corp. (0001823608) (Filer)
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8-K - Amalgamated Financial Corp. (0001823608) (Filer)
8-K - Amalgamated Financial Corp. (0001823608) (Filer)
10-Q - Amalgamated Financial Corp. (0001823608) (Filer)
8-K - Amalgamated Financial Corp. (0001823608) (Filer)
Amalgamated Financial (NASDAQ:AMAL) reported quarterly earnings of $0.85 per share which beat the analyst consensus estimate of $0.79 by 7.59 percent. This is a 18.06 percent increase over earnings of $0.72 per share from the same period last year. The company reported quarterly sales of $78.450 million which beat the analyst consensus estimate of $77.358 million by 1.41 percent. This is a 10.60 percent increase over sales of $70.929 million the same period last year.
4 analysts have expressed a variety of opinions on Amalgamated Financial (NASDAQ:AMAL) over the past quarter, offering a diverse set of opinions from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 4 0 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 3 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $30.25, a high estimate of $32.50, and a low estimate of $29.00. Observing a downwar
JP Morgan analyst Steven Alexopoulos maintains Amalgamated Financial (NASDAQ:AMAL) with a Overweight and raises the price target from $31.5 to $32.5.
Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced the mechanical completion of three community solar projects in Oregon, with commercial operations expected to commence in April and May of this year. Three additional projects are expected to be completed and commence operations by the end of the third quarter of 2024. Amalgamated financed the developments by originating a one-of-a-kind $25 million construction term facility to SolRiver Capital ("SolRiver"). Amalgamated and SolRiver agreed to a 7-year term structured with a maximum 18-month interest-only construction period, which converts into a term loan subject to a 20-year amortization for the rema
Piper Sandler analyst Alex Twerdahl reiterates Amalgamated Financial (NASDAQ:AMAL) with a Overweight and raises the price target from $28 to $29.
Amalgamated Financial (NASDAQ:AMAL) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.74 by 12.16 percent. This is a 12.16 percent increase over earnings of $0.74 per share from the same period last year. The company reported quarterly sales of $78.266 million which beat the analyst consensus estimate of $75.891 million by 3.13 percent. This is a 7.97 percent increase over sales of $72.488 million the same period last year.
The dividend is payable by the Company on May 8, 2024, to stockholders of record on May 22, 2024.
Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Amalgamated Financial (NASDAQ:AMAL) with a Outperform and lowers the price target from $32 to $30.
JP Morgan analyst Steven Alexopoulos maintains Amalgamated Financial (NASDAQ:AMAL) with a Overweight and lowers the price target from $33 to $29.5.
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NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (NASDAQ:AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights (on a linked quarter basis) Net income of $27.9 million, or $0.90 per diluted share, compared to $26.8 million, or $0.87 per diluted share.Core net income1 of $28.0 million, or $0.91 per diluted share, compared to $26.2 million, or $0.85 per diluted share. Deposits and Liquidity Total deposits increased $145.6 million, or 2.0%, to $7.6 billion including a $51.3 million decline in Brokered
NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its Board of Directors has declared a regular dividend to common stockholders of $0.12 per share, payable by the Company on November 21, 2024, to stockholders of record on November 5, 2024. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors. About Amalgamated Financial Corp. Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Ba
NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its third quarter 2024 financial results will be released before market open on Thursday, October 24, 2024. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the website at https://ir.amalgamatedbank.com/. A replay of
NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (NASDAQ:AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights (on a linked quarter basis) Net income of $26.8 million, or $0.87 per diluted share, compared to $27.2 million, or $0.89 per diluted share.Core net income1 of $26.2 million, or $0.85 per diluted share, compared to $25.6 million, or $0.83 per diluted share. Deposits and Liquidity Total deposits increased $143.2 million, or 2.0%, to $7.4 billion including an $8.8 million decline in Brokered CDs.Exclud
NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its Board of Directors has declared a regular dividend to common stockholders of $0.12 per share, payable by the Company on August 22, 2024, to stockholders of record on August 6, 2024. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors. About Amalgamated Financial Corp. Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank.
NEW YORK, July 11, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its second quarter 2024 financial results will be released before market open on Thursday, July 25, 2024. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the website at https://ir.amalgamatedbank.com/. A replay of th
NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (NASDAQ:AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights (on a linked quarter basis) Net income of $27.2 million, or $0.89 per diluted share, compared to $22.7 million, or $0.74 per diluted share.Core net income1 of $25.6 million, or $0.83 per diluted share, compared to $22.1 million, or $0.72 per diluted share. Deposits and Liquidity Total deposits increased $293.8 million, or 4.2%, to $7.3 billion including an $80.0 million decline in Brokered CDs.Excluding Bro
NEW YORK, April 23, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its Board of Directors has authorized a 50% increase in the Company's quarterly dividend to $0.15 per common share, payable by the Company on May 8, 2024, to stockholders of record on May 22, 2024. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors. About Amalgamated Financial Corp. Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalg
NEW YORK, April 11, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its first quarter 2024 financial results will be released before market open on Thursday, April 25, 2024. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the website at https://ir.amalgamatedbank.com/. A replay of t
NEW YORK, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (NASDAQ:AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the fourth quarter ended December 31, 2023. Fourth Quarter 2023 Highlights (on a linked quarter basis) Net income of $22.7 million, or $0.74 per diluted share, compared to $22.3 million, or $0.73 per diluted share.Core net income1 of $22.1 million, or $0.72 per diluted share, compared to $23.3 million, or $0.76 per diluted share.A tax adjustment of $3.3 million detracted $0.11 per diluted share from both GAAP and core net income. Deposits and Liquidity Total deposits increased
JP Morgan upgraded Amalgamated Bank from Neutral to Overweight and set a new price target of $29.00
Raymond James reiterated coverage of Amalgamated Financial with a rating of Outperform and set a new price target of $20.00 from $18.00 previously
Barclays reiterated coverage of Amalgamated Financial with a rating of Overweight and set a new price target of $21.00 from $19.00 previously
Piper Sandler reiterated coverage of Amalgamated Financial with a rating of Overweight and set a new price target of $19.00 from $17.50 previously
JP Morgan downgraded Amalgamated Bank from Overweight to Neutral and set a new price target of $17.50 from $18.50 previously
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4 - Amalgamated Financial Corp. (0001823608) (Issuer)
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4 - Amalgamated Financial Corp. (0001823608) (Issuer)
4 - Amalgamated Financial Corp. (0001823608) (Issuer)
NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (NASDAQ:AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights (on a linked quarter basis) Net income of $27.9 million, or $0.90 per diluted share, compared to $26.8 million, or $0.87 per diluted share.Core net income1 of $28.0 million, or $0.91 per diluted share, compared to $26.2 million, or $0.85 per diluted share. Deposits and Liquidity Total deposits increased $145.6 million, or 2.0%, to $7.6 billion including a $51.3 million decline in Brokered
NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its Board of Directors has declared a regular dividend to common stockholders of $0.12 per share, payable by the Company on November 21, 2024, to stockholders of record on November 5, 2024. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors. About Amalgamated Financial Corp. Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Ba
NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its third quarter 2024 financial results will be released before market open on Thursday, October 24, 2024. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the website at https://ir.amalgamatedbank.com/. A replay of
NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (NASDAQ:AMAL), today announced the publication of its 2023 Environmental, Social and Governance ("ESG") Report. The annual report provides a comprehensive overview of Amalgamated Bank's performance in its approach to addressing ESG risk as a part of delivering value for clients and investors. "Amalgamated Bank's unwavering commitment to operating with the best interest of our clients in mind is a cornerstone of our mission. We take pride in partnering with companies who prioritize environmental stewardship, champion social justice, and demonstrate exemplary corporate governance," s
Two nationally recognized experts to join the bank, adding to its position as a leader in sustainability finance. Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced the appointment of Nicole Steele as Director of Climate Partnership Banking and Emily Robichaux as Director of Climate Partnership Lending. This team of industry experts will lead the bank's efforts to execute on the potential of the $27B Greenhouse Gas Reduction Fund ("GGRF"). Ms. Steele is a nationally recognized leader and expert with over 20 years' experience in clean energy, focusing on equitable deployment and workforce development. She was instrumental in the development of the
NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (NASDAQ:AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights (on a linked quarter basis) Net income of $26.8 million, or $0.87 per diluted share, compared to $27.2 million, or $0.89 per diluted share.Core net income1 of $26.2 million, or $0.85 per diluted share, compared to $25.6 million, or $0.83 per diluted share. Deposits and Liquidity Total deposits increased $143.2 million, or 2.0%, to $7.4 billion including an $8.8 million decline in Brokered CDs.Exclud
NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its Board of Directors has declared a regular dividend to common stockholders of $0.12 per share, payable by the Company on August 22, 2024, to stockholders of record on August 6, 2024. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors. About Amalgamated Financial Corp. Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank.
NEW YORK, July 11, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced that its second quarter 2024 financial results will be released before market open on Thursday, July 25, 2024. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the website at https://ir.amalgamatedbank.com/. A replay of th
Mike Musuraca announces retirement after more than a decade as Senior Advisor for ESG and Labor Blue Wolf Capital Partners LLC ("Blue Wolf"), a middle market private equity firm specializing in the industrial and healthcare sectors, today announced that Steve Sleigh will be a Senior Advisor to the firm. Dr. Sleigh, through his firm Sleigh Strategy LLC, has provided advice to a variety of clients since 2015 on initiatives that align businesses, labor, and investors. Dr. Sleigh's new role with Blue Wolf follows the retirement of Mike Musuraca, the firm's longtime Senior Advisor for ESG and Labor. "Mike has been a trusted colleague and advisor to Blue Wolf since the firm's founding almos
NEW YORK, May 15, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) announced that the Company has extended its commitment to invest in Residential Property Assessed Clean Energy ("R-PACE") assessments through its ongoing partnership with Home Run Finance ("HRF"). Amalgamated's commitment provides an additional $85 million of capital to fund R-PACE assessments originated by HRF. Priscilla Sims Brown, President and Chief Executive Officer, commented, "We are pleased to extend our commitment to invest in R-PACE financial solutions. As concerns about environmental sustainability and access to affordable home improvement financing continue to
4 - Amalgamated Financial Corp. (0001823608) (Reporting)
Two nationally recognized experts to join the bank, adding to its position as a leader in sustainability finance. Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced the appointment of Nicole Steele as Director of Climate Partnership Banking and Emily Robichaux as Director of Climate Partnership Lending. This team of industry experts will lead the bank's efforts to execute on the potential of the $27B Greenhouse Gas Reduction Fund ("GGRF"). Ms. Steele is a nationally recognized leader and expert with over 20 years' experience in clean energy, focusing on equitable deployment and workforce development. She was instrumental in the development of the
NEW YORK, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced it has appointed Julieta Ross and Scott Stoll as its newest members to the Company's Board of Directors, effective immediately. Dr. Ross has an extensive background in the broader financial services risk management landscape, with over 20 years of global banking technology leadership and experience. With a proven track record of building and scaling businesses while leveraging digital technologies, she offers a vast understanding on the integration of new technology perspectives in the process of building market-leading banking platforms and avant-garde di
NEW YORK, July 27, 2022 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. ("Amalgamated" or the "Company") (NASDAQ:AMAL) today announced the appointment of Meredith Miller as an independent director to the Company's Board of Directors, effective immediately. Ms. Miller is internationally recognized as a leader in corporate governance occupying various board and senior leadership roles with over 30 years of experience in the public and private sector. Of particular significance is Ms. Miller's experience and advocacy in the pursuit of advancing diversity in corporate boards as well as her extensive corporate governance experience spanning human capital management, ESG, and sustainable invest
NEW YORK, May 26, 2021 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (NASDAQ:AMAL) ("Amalgamated" or the "Company"), today announced that it has appointed Jason Darby as Chief Financial Officer and Senior Executive Vice President, effective immediately. Mr. Darby has served as interim Chief Financial Officer since April 2021. Earlier this month, in a separate announcement, Amalgamated named Priscilla Sims Brown as its President and Chief Executive Officer, effective June 1, 2021. In making today's announcement, Lynne Fox, Board Chair and Interim President and Chief Executive Officer, commented, "On behalf of the board and senior management team, we are excited that Jason will be our Chi
NEW YORK, May 11, 2021 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (NASDAQ:AMAL) ("Amalgamated" or the "Company"), America's socially responsible bank, today named Priscilla Sims Brown its next President and Chief Executive Officer. Ms. Brown will join Amalgamated on June 1, 2021 from Commonwealth Bank, Australia's largest bank, where she serves as Group Executive, Marketing and Corporate Affairs, with responsibility for end-to-end marketing, branding, stakeholder insights, government and public affairs, and environment and social policy. Through her leadership, Commonwealth Bank bolstered its brand and reputation among all stakeholders and greatly enhanced its value proposition to cu