Want to see AMAL full AI Analyst Report?
Top Page
Amalgamated Bank
(NASDAQ:AMAL)
Select Model
Select Model
Rating:75Outperform
Price Target:
$54.00
▲(11.52% Upside)
Action:Reiterated
Date:10/22/26
AMAL scores well primarily on strong financial performance (durable profitability and meaningfully improved leverage) and a very constructive earnings outlook supported by raised guidance and record results. Valuation is supportive (P/E ~12.6 with a dividend), while technical indicators are more mixed and slightly negative on momentum, tempering the overall score.
Positive Factors
Record Profitability
Record core earnings and revenue demonstrate strong operating execution and broad earnings capacity. Continued profitability at this level can support internal capital generation, technology investment, and resilience while reinforcing the bank’s competitive position in its niche markets.
Negative Factors
Margin and NII Pressure
The expected pause in net interest income growth and near-term margin compression show that deposit mix changes can weigh on earnings momentum. Higher-cost interest-bearing funding may limit spread expansion until lower-cost deposits become a larger, more stable funding source.
Read all positive and negative factors
Positive Factors
Negative Factors
Record Profitability
Record core earnings and revenue demonstrate strong operating execution and broad earnings capacity. Continued profitability at this level can support internal capital generation, technology investment, and resilience while reinforcing the bank’s competitive position in its niche markets.
Read all positive factors
Amalgamated Bank (AMAL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.51B
Dividend Yield1.29%
Average Volume (3M)274.02K
Price to Earnings (P/E)13.3
Beta (1Y)0.77
Revenue Growth9.56%
EPS Growth12.20%
CountryUS
Employees450
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.79
Shares Outstanding29,900,146
10 Day Avg. Volume213,185
30 Day Avg. Volume274,019
Financial Highlights & Ratios
PEG Ratio-10.77
Price to Book (P/B)1.21
Price to Sales (P/S)2.11
P/FCF Ratio7.13
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue3.01
Enterprise Value/Gross Profit4.31
Enterprise Value/Ebitda9.15
Forecast
1Y Price Target
$56.00Price Target Upside15.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.04
Revenue Forecast (FY)$386.81M
Amalgamated Bank Business Overview & Revenue Model
Company Description
Amalgamated Financial Corp., established in New York in 1923, operates as the parent company for Amalgamated Bank. This institution delivers a comprehensive array of financial services, including commercial and retail banking, investment managemen...
How the Company Makes Money
Amalgamated Bank primarily earns money through (1) net interest income and (2) non-interest (fee) income. Net interest income is generated by taking deposits and other funding sources (e.g., checking, savings, and other deposit products) and deplo...
Amalgamated Bank Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 28, 2027
Earnings Call Sentiment Positive
The call was strongly positive, supported by record core net income, record net interest income and revenue, improved profitability metrics, stable credit quality, strong liquidity, raised full-year outlooks, and continued progress in PACE, technology, and workforce investments. The main challenges were expected fourth-quarter margin compression and a pause in NII momentum as political deposits run off, ongoing headquarters-related expenses, the unresolved D.C. multifamily relationship, and continued optimization of the consumer solar portfolio. Overall, the positive operating performance and outlook significantly outweighed the stated challenges.Positive Updates
Record Quarterly Earnings and Revenue
Core net income increased to a record $34.6 million, or $1.14 per diluted share. Net revenue exceeded $100 million for the first time in the bank's history.
Negative Updates
Expected Fourth-Quarter Margin Compression
Management projects modest fourth-quarter margin compression related to the DDA/IBA deposit remix as the election cycle concludes. DDA balances were approximately 42% of total deposits at quarter-end and are expected to be approximately 36% by the end of the fourth quarter.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Quarterly Earnings and Revenue
Core net income increased to a record $34.6 million, or $1.14 per diluted share. Net revenue exceeded $100 million for the first time in the bank's history.
Read all positive updates
Company Guidance
For Q4, Amalgamated expects to run a neutral balance sheet, with net interest income that “will probably look very similar to the amount that we had in the third quarter,” while projecting modest margin compression related to the DDA/IBA deposit remix as the election cycle concludes; full-year net interest income guidance increased from a high end of $340 million to a range of $341 to $342 million, and core pretax pre provision earnings guidance increased from the prior high end target $190 million to a new range of $193 to $194 million. Expenses are expected to be generally close to Q3, maybe tick up slightly, provision expense for Q4 is expected to be a $5 million or a $5.5 million number, DDA was about 42% of total deposits at quarter-end and probably going to be somewhere in the 36% range at the end of Q4, and PACE originations were around 7% across the broader portfolio, with expectations that they could be as high as 7.75 and could start approaching an 8 number in 2027; the company does not have its guidance ready for 2027 but expects a good margin expansion opportunity throughout the year.Amalgamated Bank Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 485.42M | 455.03M | 435.34M | 382.48M | 285.16M | 208.76M |
| Gross Profit | 338.80M | 319.80M | 306.19M | 271.05M | 251.51M | 202.83M |
| EBITDA | 159.68M | 146.95M | 151.02M | 131.13M | 118.51M | 75.57M |
| Net Income | 113.42M | 104.45M | 106.43M | 87.98M | 81.48M | 52.94M |
Balance Sheet | ||||||
| Total Assets | 9.41B | 8.87B | 8.26B | 7.97B | 7.84B | 7.08B |
| Cash, Cash Equivalents and Short-Term Investments | 4.17M | 53.16M | 1.69B | 1.57B | 1.88B | 2.44B |
| Total Debt | 78.85M | 94.06M | 334.14M | 335.57M | 698.49M | 131.99M |
| Total Liabilities | 8.58B | 8.08B | 7.55B | 7.39B | 7.33B | 6.51B |
| Stockholders Equity | 834.99M | 794.46M | 707.65M | 585.23M | 508.82M | 563.74M |
Cash Flow | ||||||
| Free Cash Flow | 142.96M | 134.40M | 122.29M | 115.75M | 145.65M | 68.14M |
| Operating Cash Flow | 163.90M | 135.78M | 124.06M | 117.22M | 147.32M | 70.54M |
| Investing Cash Flow | -844.09M | -378.02M | -315.95M | -134.41M | -1.20B | -865.41M |
| Financing Cash Flow | 676.91M | 472.70M | 162.06M | 44.21M | 788.22M | 1.09B |
Amalgamated Bank Technical Analysis
Positive
48.42
Price Trends
48.00
Positive
47.29
Positive
43.28
Positive
Market Momentum
0.34
Negative
68.21
Neutral
90.29
Negative
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 48.42 is above the 20-day moving average (MA) of 47.57, above the 50-day MA of 48.00, and above the 200-day MA of 43.28, indicating a bullish trend. The MACD of 0.34 indicates Negative momentum. The RSI at 68.21 is Neutral, neither overbought nor oversold. The STOCH value of 90.29 is Negative, 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.51B | 13.32 | 14.12% | 1.29% | 9.56% | 12.20% | |
75 Outperform | $1.50B | 19.49 | 17.82% | 0.63% | 19.99% | 10.00% | |
74 Outperform | $1.74B | 11.13 | 12.02% | 1.25% | 2.04% | 22.06% | |
73 Outperform | $1.87B | 13.83 | 9.50% | 2.34% | 13.64% | 169.34% | |
73 Outperform | $1.64B | 11.27 | 9.42% | 2.29% | 24.33% | 130.03% | |
71 Outperform | $1.20B | 9.75 | 12.32% | 0.98% | 11.92% | 70.43% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
AMAL
Amalgamated Bank
50.50
22.84
82.60%
DCOM
Dime Community Bancshares
42.73
16.16
60.84%
CNOB
ConnectOne Bancorp
32.69
9.02
38.08%
BY
Byline Bancorp
38.40
11.59
43.21%
ESQ
Esquire Financial Holdings
123.54
25.84
26.44%
MCB
Metropolitan Bank Holding
96.88
28.80
42.31%
Amalgamated Bank Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Amalgamated Bank Reports Record Third-Quarter Earnings Strength
Positive
Oct 22, 2026
In the third quarter ended September 30, 2026, Amalgamated Financial Corp. reported record net income of $36.4 million and record operating revenue of $101.7 million, underscoring strong and diversified earnings power. Core net income rose to $34....
Dividends
Amalgamated Bank Declares Regular Quarterly Cash Dividend
Positive
Oct 20, 2026
On October 20, 2026, Amalgamated Financial Corp. announced that its board declared a regular quarterly cash dividend of $0.17 per share to common stockholders, payable on November 19, 2026, to shareholders of record as of November 3, 2026. The dec...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Amalgamated Bank Reports Record Second-Quarter 2026 Results
Positive
Jul 23, 2026
Amalgamated Financial Corp. reported record second-quarter 2026 results on July 23, 2026, with net income rising to $34.8 million, or $1.15 per diluted share, and core net income reaching $33.1 million. Management highlighted the company’s s...
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.