Amalgamated Financial (NASDAQ:AMAL) Announces Earnings Results, Beats Expectations By $0.10 EPS

Amalgamated Financial (NASDAQ:AMAL) released its quarterly earnings results on Thursday. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10, FiscalAI reports. The business had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.

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

• Amalgamated reported record second-quarter results, including net income of $34.8 million, core net income of $33.1 million, return on average assets above 1.4%, and return on tangible common equity above 16%.
• Deposits and assets continued to grow strongly, with on-balance-sheet deposits up $280 million to a record $8.5 billion and total loans up $115 million, supported by growth in commercial lending and political deposits.
• The company raised full-year guidance, increasing net interest income outlook to $338 million-$340 million and core pre-tax, pre-provision earnings to $188 million-$190 million.
• Management said the balance-sheet remix is still creating earnings upside, but margin growth may moderate in the back half of the year, with possible fourth-quarter compression tied to deposit mix and political deposit outflows.
• Credit quality remained stable, with provision expense normalizing, criticized/classified balances down about $9 million, and pass-rated loans still around 97% of the portfolio.

Amalgamated Financial Price Performance

Shares of NASDAQ:AMAL opened at $48.66 on Friday. The company has a market capitalization of $1.45 billion, a P/E ratio of 14.15 and a beta of 0.79. The company’s 50-day moving average is $44.27 and its 200 day moving average is $40.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial has a fifty-two week low of $25.13 and a fifty-two week high of $49.08.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Tuesday, August 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 4th. Amalgamated Financial’s payout ratio is 19.77%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMAL shares. Piper Sandler increased their target price on shares of Amalgamated Financial from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Weiss Ratings downgraded shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amalgamated Financial presently has an average rating of “Hold” and a consensus target price of $48.00.

Amalgamated Financial News Roundup

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

• Positive Sentiment: Amalgamated Financial reported record second-quarter 2026 results, highlighting stronger profitability and improved margins, which supports the stock’s recent move higher. Business Wire earnings release
• Positive Sentiment: Quarterly EPS of $1.10 beat the consensus estimate of $1.00, while revenue of $96.1 million also topped expectations, reinforcing the bullish reaction. Zacks earnings article
• Positive Sentiment: Management said the quarter delivered record net income and raised guidance, signaling continued momentum that may keep investor sentiment positive. Yahoo Finance highlights
• Positive Sentiment: The company also announced a dividend-related catalyst, which helped AMAL reach a new 12-month high and may appeal to income-focused investors. American Banking News article

Insider Buying and Selling

In other news, CAO Leslie Veluswamy sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total transaction of $108,775.00. Following the completion of the transaction, the chief accounting officer directly owned 14,215 shares of the company’s stock, valued at $618,494.65. This represents a 14.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Darby sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total transaction of $129,900.00. Following the sale, the chief financial officer owned 79,343 shares of the company’s stock, valued at approximately $3,435,551.90. The trade was a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 7,589 shares of company stock worth $325,139. Insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently bought and sold shares of AMAL. Quadrant Capital Group LLC grew its stake in Amalgamated Financial by 11.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock valued at $100,000 after acquiring an additional 312 shares in the last quarter. Intech Investment Management LLC lifted its stake in Amalgamated Financial by 3.4% in the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after purchasing an additional 383 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Amalgamated Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after purchasing an additional 468 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Amalgamated Financial by 3.3% in the 4th quarter. Bank of Montreal Can now owns 20,807 shares of the company’s stock valued at $666,000 after purchasing an additional 674 shares during the period. 75.93% of the stock is owned by institutional investors.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.