Amalgamated Financial (NASDAQ:AMAL) Announces Earnings Results

Amalgamated Financial (NASDAQ:AMAL) issued its quarterly earnings results on Thursday. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06, FiscalAI reports. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The company had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million.

Here are the key takeaways from Amalgamated Financial’s conference call:

• Record third-quarter results: Core net income reached $34.6 million, or $1.14 per diluted share, while net revenue exceeded $100 million for the first time. Core ROAA rose to 1.44% and core ROTCE to 16.57%, with the efficiency ratio holding near 49%.
• Management raised its full-year outlook for net interest income to $341 million–$342 million and core pre-tax, pre-provision earnings to $193 million–$194 million, citing strong third-quarter performance and favorable earnings momentum.
• The bank is reallocating capital toward higher-return assets, including PACE, where balances grew by $54.2 million and new originations carried yields around 7% with potential to approach 8% in 2027. Management is considering accelerating runoff of the lower-performing consumer solar portfolio.
• Management expects fourth-quarter net interest income to be roughly flat and margins to compress modestly as election-related, low-cost demand deposits run off and are replaced by interest-bearing funding. Political deposits had already declined from approximately $2 billion at quarter-end to $1.7 billion by October 15.
• Credit quality remains broadly stable, but the previously disclosed troubled Washington, D.C., multifamily relationship has not yet reached a resolution. Management continues to anticipate approximately $5 million–$5.5 million of provision expense in the fourth quarter and is exploring a potential note sale.

Amalgamated Financial Stock Up 5.2%

AMAL stock opened at $50.31 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $47.98 and a two-hundred day moving average price of $45.64. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 12.58 and a beta of 0.81. Amalgamated Financial has a twelve month low of $26.45 and a twelve month high of $51.59.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s dividend payout ratio (DPR) is currently 18.13%.

More Amalgamated Financial News

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Amalgamated reported quarterly earnings of $1.14 per share, above the $1.08 analyst consensus and up from $0.91 a year earlier. The results were supported by record earnings and profitability, including a reported 3.77% margin. Amalgamated Financial third-quarter financial results
• Positive Sentiment: Management forecast full-year 2026 net interest income of approximately $341 million to $342 million. The outlook suggests continued earnings power despite changes in the deposit and lending mix related to election-driven customer activity. Amalgamated net interest income forecast
• Positive Sentiment: The earnings beat, higher year-over-year profit and management’s confidence in sustained profitability helped drive the positive investor reaction. Amalgamated Q3 earnings and revenue results
• Neutral Sentiment: Quarterly revenue was $99.17 million, essentially in line with—but slightly below—the $99.26 million consensus estimate, making the earnings beat more important to the market than top-line growth. Amalgamated earnings results
• Negative Sentiment: A reported $78 million problem loan clouds the otherwise strong quarter and could raise concerns about future credit costs, asset quality and earnings durability. Amalgamated Q3 problem loan analysis

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMAL. Piper Sandler boosted their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Keefe, Bruyette & Woods lifted their price target on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 9th. Finally, Raymond James Financial initiated coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Amalgamated Financial has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Activity at Amalgamated Financial

In related news, major shareholder United Workers sold 234,128 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $47.88, for a total value of $11,210,048.64. Following the completion of the transaction, the insider directly owned 399,567 shares of the company’s stock, valued at approximately $19,131,267.96. This trade represents a 36.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder States Regional Joint Western sold 234,128 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $47.88, for a total transaction of $11,210,048.64. Following the completion of the transaction, the insider directly owned 399,567 shares of the company’s stock, valued at $19,131,267.96. This represents a 36.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,724,705 shares of company stock worth $83,009,328 in the last ninety days. Insiders own 1.63% of the company’s stock.

Amalgamated Financial Company Profile

Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.