Amalgamated Financial (AMAL) Stock

Amalgamated Financial, focusing on mission-based customer segments, has seen significant growth in deposits, loans, and net interest income, making it a strong investment. Shares have risen 37.1% since May, outperforming the S&P 500, driven by improved margins, higher revenue, and strong asset quality. Despite shares not being as cheap as before, the bank's high-quality assets and attractive pricing relative to peers justify a 'soft buy' rating.

Here is how Amalgamated Financial (AMAL) and Janus Henderson Group plc (JHG) have performed compared to their sector so far this year.

Does Amalgamated Financial (AMAL) have what it takes to be a top stock pick for momentum investors? Let's find out.

Amalgamated Financial (AMAL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Amalgamated Financial (AMAL) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.76 per share a year ago.

YoY Tangible Book Value per share Growth of 27.9% | Deposits Higher by $311 million YoY Tangible Book Value per share Growth of 27.9% | Deposits Higher by $311 million

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.

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.

Earnings will benefit this year from on and off-balance sheet political deposits. The residential mortgage segment will likely drive loan growth next year. It will counter the negative effect of interest rate cuts on the margin. I'm increasing my earnings estimate following the better-than-expected first-half results.