Core Viewpoint - Amalgamated Financial (AMAL) reported strong quarterly results with revenue of $78.27 million, an 8% year-over-year increase, and an EPS of $0.83, up from $0.74 a year ago, exceeding market expectations [1] Financial Performance - Revenue of $78.27 million surpassed the Zacks Consensus Estimate of $75.77 million, resulting in a surprise of +3.30% [1] - EPS of $0.83 exceeded the consensus estimate of $0.72, delivering a surprise of +15.28% [1] - Efficiency Ratio stood at 48.8%, better than the average estimate of 51.5% from two analysts [2] - Average Balance of total interest-earning assets was $7.85 billion, slightly above the estimated $7.80 billion [2] - Annualized net charge-offs to average loans were 0.2%, lower than the average estimate of 0.3% [2] - Net Interest Margin was reported at 3.5%, matching the average estimate [2] - Net Interest Income reached $68.04 million, exceeding the average estimate of $67.21 million [2] - Service charges on deposit accounts were $6.14 million, significantly higher than the average estimate of $2.89 million [2] - Trust department fees amounted to $3.85 million, above the estimated $3.62 million [2] - Non-interest income was reported at $10.23 million, surpassing the average estimate of $8.54 million [2] Stock Performance - Shares of Amalgamated Financial have returned +0.2% over the past month, while the Zacks S&P 500 composite declined by -3% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Amalgamated Financial (AMAL) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.28%. A quarter ago, it was expected that this bank would post earnings of $0.73 per share when it actually produced earnings of $0.72, delivering a surprise of -1.37%.Over the last four quarters, the compa ...

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, ...

Amalgamated Financial Corp. Reports First Quarter 2024 Financial Results; Stellar Deposit Growth; Net Interest Margin Rises to 3.49% Common Equity Tier 1 Capital Ratio of 13.68% | Return on Average Assets of 1.36% 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 linke ...

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. Amalgam ...

Group 1 - Amalgamated Financial Corp. will release its first quarter 2024 financial results on April 25, 2024, before market open [1] - A conference call to discuss the financial results will be held at 11:00 a.m. Eastern Time on the same day [1] - Investors can access a live audio webcast of the conference call on the company's website [1] Group 2 - Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company [2] - The company operates through its wholly-owned subsidiary, Amalgamated Bank, which has a network of five branches across New York City, Washington D.C., and San Francisco [2] - As of December 31, 2023, Amalgamated Bank had total assets of $8.0 billion, total net loans of $4.3 billion, and total deposits of $7.0 billion [2] - The trust business of Amalgamated Bank held $41.7 billion in assets under custody and $14.8 billion in assets under management as of December 31, 2023 [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share AMAL The Nasdaq Global Market FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number: 0 ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find compa ...

Core Viewpoint - Amalgamated Financial Corp. is expected to see an increase in earnings this year due to loan growth and slight margin expansion, with projected earnings of $3.11 per share, representing an 8.9% year-over-year increase [2][8]. Loan Growth - Loan growth for Amalgamated Financial was 7% for the full year, exceeding previous expectations, despite a deceleration in the last quarter of 2023 [3]. - The management anticipates a stable balance sheet in the first half of the year, followed by a projected 3% increase in the second half [3]. - The company primarily focuses on lending in Washington D.C., New York City, and San Francisco, with the regional economy supporting continued loan growth [3]. - The loan portfolio is expected to grow by 5% in 2024 [5]. Balance Sheet and Margin Trends - The net interest margin improved by 15 basis points in the last quarter of 2023, although it shrank by 12 basis points overall for the year [7]. - The management expects the Fed funds rate to decline by 50-75 basis points in 2024, which may negatively impact the net interest margin due to sticky deposit costs and the need for repricing of some assets [7]. - Despite these challenges, the management is optimistic about margin expansion due to planned changes and the maturity of high-cost borrowings [7]. Earnings Outlook - The company reported earnings of $2.86 per share for 2023, up 9.4% year-over-year, and is projected to continue this upward trend in 2024 with expected earnings of $3.11 per share [8]. - The income statement estimates show a net interest income increase from $261 million in FY23 to $277 million in FY24E [9]. Valuation and Target Price - The stock is currently offering a dividend yield of 1.7%, with a potential for a dividend hike due to a low payout ratio of 12.9% for 2024 [11]. - The target price based on historical price-to-tangible book (P/TB) and price-to-earnings (P/E) multiples suggests a price of $26.3, indicating a 9.6% upside from the current market price [11]. - The combined target price reflects a total expected return of 11.2% when including the forward dividend yield [11].

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find s ...