MARKET

AMAL

AMAL

Amalgamated Bank.
NASDAQ

Real-time Quotes | Nasdaq Last Sale

11.88
-0.14
-1.16%
After Hours: 11.88 0 0.00% 16:00 10/23 EDT
OPEN
12.05
PREV CLOSE
12.02
HIGH
12.17
LOW
11.67
VOLUME
41.90K
TURNOVER
--
52 WEEK HIGH
20.00
52 WEEK LOW
7.90
MARKET CAP
368.87M
P/E (TTM)
8.37
1D
5D
1M
3M
1Y
5Y
News
Financial
Releases
Corp Actions
Analysis
Profile
Amalgamated Bank (AMAL) Earnings Expected to Grow: Should You Buy?
Amalgamated Bank (AMAL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Zacks · 2d ago
Amalgamated Bank reports Q3 prelim
For Q3, Amalgamated Bank ([[AMAL]] -1.4%) expects Net income of $12M-$13M, or $0.39-$0.42 per diluted share, exceeds consensus mid-point $0.38.Expects $6.4M expense related to branch closures.Expects non-interest income of $4.3M
Seekingalpha · 10/14 14:23
Amalgamated Bank CEO Announces Plan to Step Down in Early 2021
NEW YORK, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Amalgamated Bank (Nasdaq: AMAL) (the “Company”) today announced that Keith Mestrich has informed the Board of Directors that he will step down from his positions as President and Chief Executive Officer on January 31, 2021. At that time, he will transition from a director to special advisor to the Board through July 2021. Mr. Mestrich joined Amalgamated Bank in 2012 and has served as its President and Chief Executive Officer since 2014. The Board has formed a Search Committee comprised of Lynne Fox, Chair of the Board, and four independent directors to oversee a national search process for a new CEO. The Board has engaged Ellig Group, a leading executive search firm, to assist the Search Committee in identifying and evaluating a robust and diverse slate of candidates.If the Board has not selected a new CEO at the time of Mr. Mestrich’s departure, Ms. Fox will become Interim President and CEO, in addition to her present role as Chair. As a Board member for the past 20 years and Chair for the past four, Ms. Fox has intimate knowledge of the bank, its operations and culture, and is well acquainted with the management team. In 2016, Ms. Fox became the first woman in Amalgamated’s near 100-year history to serve as Chair. She also serves as the International President of Workers’ United, which owns 41% of Amalgamated Bank’s common shares.In making this announcement, Mr. Mestrich said, “Today, Amalgamated Bank is financially and operationally strong, and in an excellent position to prosper going forward, as demonstrated by the preliminary third quarter results we announced this morning. It has been a privilege to lead this bank’s successful turnaround, during which time we nearly doubled the bank’s asset base, expanded its geographic reach to the West Coast with the acquisition of New Resource Bank, and took the bank public in 2018. Perhaps most importantly, we built an outstanding leadership team that allowed the Company to continue to grow profitably during these unprecedented past few months. Amalgamated Bank is a special institution, and the decision to leave came after much reflection, but, given all that we accomplished, there could not be a better time for me to turn over the reins and pursue the next chapter in my career. I’m looking forward to working closely with the Board and our next CEO, when that person is identified, to achieve a seamless transition of leadership.”Ms. Fox said: “The Board is deeply grateful to Keith for his leadership over the past eight years, and we respect and understand his decision to step down and pursue new opportunities at this time. Keith was not a traditional banker when he was named CEO in 2014, but he was the ideal executive for the bank to achieve what the Board believed needed to get done in order to position the Company for the future. He has accomplished every goal the Board and he set out to achieve, and he has done so while maintaining the bank’s commitment to social responsibility that makes us a leader among financial institutions. We greatly appreciate that he will be staying on through next summer to advise us through this transition process.”Ms. Fox continued, “As America’s socially responsible bank, we look forward to identifying a new CEO who can continue to provide long-term, sustainable value for our customers and shareholders, while promoting our deeply held values in support of other socially responsible organizations, progressive causes, and social justice.”About Amalgamated Bank Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of six branches in New York City, Washington D.C., San Francisco and Boston. Amalgamated was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country’s oldest labor unions. Amalgamated provides commercial banking and trust services nationally, and offers a full range of products and services to both commercial and retail customers. Amalgamated is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of June 30, 2020, total assets were $6.5 billion, total net loans were $3.6 billion, and total deposits were $5.9 billion. Additionally, as of June 30, 2020, the trust business held $32.0 billion in assets under custody and $13.3 billion in assets under management.Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified by words and phrases such as “going forward,” “looking forward,” “anticipate,” “expect,” “intend,” “believe,” “may,” “likely,” “will” or other statements that indicate future periods. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in our forward-looking statements: our inability to timely identify a new CEO in light of, among other things, competition for experienced executives in the banking industry; unexpected challenges related to our CEO’s transition; adjustments needed in the quarter-end closing process as required by accounting principles generally accepted in the United States; the strength of the United States economy in general and the strength of the local economies in which we conduct our operations may be different than expected, including, but not limited to, due to the negative impacts and disruptions resulting from the novel coronavirus, or COVID-19, on the economies and communities we serve, which may have an adverse impact on our business, operations and performance, and could have a negative impact on our credit portfolio, share price, borrowers, and on the economy as a whole, both domestically and globally; the rate of delinquencies and amounts of charge-offs, the level of our allowance for loan losses, the rates of loan growth, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action; and adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could have a negative impact on us. Additional factors that may cause actual results to differ materially from those contemplated by any forward-looking statements also may be found in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current Reports on Form 8-K filed with the FDIC and available at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html. The inclusion of this forward-looking information should not be construed as a representation by us or any person that future events, plans, or expectations contemplated by us will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.Media Contacts: Jeffrey Taufield jeffrey.taufield@kekstcnc.com 917-359-3557           or Nathan Riggs nathan.riggs@kekstcnc.com 917-574-8583Investor Contact: Jamie Lillis Solebury Trout shareholderrelations@amalgamatedbank.com 800-895-4172Source: Amalgamated Bank
GlobeNewswire · 10/14 12:32
Amalgamated Bank Announces Preliminary Third Quarter 2020 Financial Results
~ Amalgamated Bank Announces Third Quarter 2020 Earnings Conference Call Timing ~NEW YORK, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Amalgamated Bank (Nasdaq: AMAL) (“Amalgamated”) today announced certain preliminary unaudited financial information for the quarter ended September 30, 2020.For the third quarter of 2020, Amalgamated expects to report: * Net income in the range of $12 to $13 million, or $0.39 to $0.42 per diluted share * Expense of $6.4 million related to branch closures * Non-interest income of $4.3 million related to equity method investments in solar projects * Provision for loan losses of $3.4 million * Total assets of $6.6 billion as of September 30, 2020 * An improvement in loans on deferral due to COVID-19 * An increase of approximately $8 million in non-accrual loansThe above-referenced preliminary unaudited financial information is based solely on management’s estimates, reflects currently available preliminary financial information and remains subject to additional procedures. We have provided a range for our net income, rather than a specific amount, primarily because our financial closing and review procedures for the third quarter of 2020 are not yet complete. In addition, our registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to the preliminary financial information. Our actual results for the third quarter of 2020 will be available before our earnings conference call, as set forth below. The above preliminary financial information is not a complete presentation of our financial results for the third quarter of 2020, and our actual results may differ materially from our estimates and preliminary amounts indicated above as a result of various factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements” below.Third Quarter 2020 Earnings Conference CallAmalgamated also announced that its third quarter 2020 financial results will be released before market open on Wednesday, October 28, 2020. Amalgamated will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss the financial results.The conference call can be accessed by dialing 1-877-407-9716 (domestic) or 1-201-493-6779 (international) and asking for the Amalgamated Bank Third Quarter 2020 Earnings Call.   A live audio webcast of the conference call will be available on the website at https://ir.amalgamatedbank.com/.A replay of the conference call will be available within two hours of the conclusion of the call and can be accessed both online and by dialing 1-844-512-2921, or for international callers 1-412-317-6671 and providing the access code 13711002. The telephonic replay will be available until 11:59 p.m. Eastern Time on November 4, 2020.About Amalgamated Bank Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of six branches in New York City, Washington D.C., San Francisco and Boston. Amalgamated was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country’s oldest labor unions. Amalgamated provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of June 30, 2020, total assets were $6.5 billion, total net loans were $3.6 billion, and total deposits were $5.9 billion. Additionally, as of June 30, 2020, the trust business held $32.0 billion in assets under custody and $13.3 billion in assets under management.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified by words and phrases such as “expects,” “estimates,” “intends,” “preliminary,” “believes,” “may,” “likely,” “will” or other statements that indicate future periods. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in our forward-looking statements: adjustments needed in the quarter-end closing process as required by accounting principles generally accepted in the United States of America; the strength of the United States economy in general and the strength of the local economies in which we conduct our operations may be different than expected, including, but not limited to, due to the negative impacts and disruptions resulting from the novel coronavirus, or COVID-19, on the economies and communities we serve, which may have an adverse impact on our business, operations and performance, and could have a negative impact on our credit portfolio, share price, borrowers, and on the economy as a whole, both domestically and globally; the rate of delinquencies and amounts of charge-offs, the level of our allowance for loan losses, the rates of loan growth, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action; and adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could have a negative impact on us. Additional factors that may cause actual results to differ materially from those contemplated by any forward-looking statements also may be found in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the FDIC and available at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html. The inclusion of this forward-looking information should not be construed as a representation by us or any person that future events, plans, or expectations contemplated by us will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.Investor Contact: Jamie Lillis Solebury Trout shareholderrelations@amalgamatedbank.com 800-895-4172Source: Amalgamated Bank
GlobeNewswire · 10/14 12:30
Amalgamated Bank CEO to step down
After 8 years with Amalgamated Bank (AMAL),  Mr. Keith Mestrich will be stepping down as President and Chief Executive Officer on January 31, 2021.To ensure a steady transition, he will transit from
Seekingalpha · 10/14 11:43
Amalgamated Bank Announces Virtual Participation at Barclays Global Financial Services Conference
NEW YORK, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Amalgamated Bank (Nasdaq: AMAL) (“Amalgamated”) today announced that Keith Mestrich, President and Chief Executive Officer, and Drew LaBenne, Chief Financial Officer, will participate in a fireside chat at the Barclays Global Financial Services Conference
GlobeNewswire · 09/10 20:10
AMAL leads financial gainers, FPAC and FINV among losers
Gainers: Amalgamated Bank (AMAL) +7%. Eaton Vance (EV) +6%. Navient (NAVI) +5%. AXIS Capital Holdings (AXS) +5%.Losers: Far Point Acquisition (FPAC) -14%. FinVolution Group (FINV) -11%. Marathon Patent Group (MARA)
Seekingalpha · 08/27 17:14
Mid-Day Market Update: Nasdaq Turns Positive; BMC Stock Holdings Shares Spike Higher
Midway through trading Thursday, the Dow traded up 0.91% to 28,589.10 while the NASDAQ rose 0.36% to 11,706.71. The S&P also rose, gaining 0.53% to 3,497.14.
Benzinga · 08/27 16:20
More
Forecast
EPSBVPSCFPS
Actual (USD)
Estimate (USD)
Income StatementMore
Net IncomeTotal RevenueOperating Income
Net Income (USD)
YoY (%)
Balance SheetMore
Total Assets (USD)
Total Liabilities (USD)
Debt to Asset (%)
Cash FlowMore
OperatingInvestingFinancing
Operating (USD)
YoY (%)
Learn about the latest financial forecast of AMAL. Analyze the recent business situations of Amalgamated Bank. through EPS, BVPS, FPS, and other data. This information may help you make smarter investment decisions.
Analyst Rating

Based on 5 analysts

Buy

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

Analyst Price Target
The average AMAL stock price target is 14.10 with a high estimate of 16.00 and a low estimate of 13.00.
EPS
Institutional Holdings
Institutions: 124
Institutional Holdings: 15.19M
% Owned: 48.92%
Shares Outstanding: 31.05M
TypeInstitutionsShares
Increased
35
840.17K
New
25
7.46K
Decreased
31
920.95K
Sold Out
0
0
  • Performance
  • Asset Allocation
  • Dividend History
No Data
Industry
Banks
+1.39%
Banking Services
+1.21%
Key Executives
Chairman/Director
Lynne Fox
President/Chief Executive Officer/Director
Keith Mestrich
Chief Financial Officer/Executive Vice President
Drew LaBenne
Chief Financial Officer/Executive Vice President
Andrew LaBenne
Chief Operating Officer/Executive Vice President
Martin Murrell
Executive Vice President/Chief Accounting Officer/Controller
Jason Darby
Executive Vice President/Chief Administrative Officer
James Paul
Executive Vice President/Chief Information Officer
Barbara Kissner
Executive Vice President/Chief Marketing Officer
Peter Neiman
Executive Vice President/Chief Risk Officer
Mark Pappas
Executive Vice President/General Counsel
Deborah Silodor
Executive Vice President/Director
Edgar Romney
Executive Vice President
Dixiana Berrios
Executive Vice President
Sam Brown
Executive Vice President
Arthur Prusan
Executive Vice President
Sherry Williams
Senior Vice President/Director of Human Resources
Tanisa Williams
Senior Vice President
Molly Culhane
Senior Vice President
Jim Lingberg
Senior Vice President
Nina Webster
Lead Director/Independent Director
Robert Romasco
Director
Julie Kelly
Independent Director
Donald Bouffard
Independent Director
Maryann Bruce
Independent Director
Patricia Dennis
Independent Director
Robert Dinerstein
Independent Director
Mark Finser
Independent Director
John McDonagh
Independent Director
Steve Sleigh
  • Dividends
  • Splits
  • Insider Activity
Declaration Date
Dividend Per Share
Ex-Div Date
08/05/2020
Dividend USD 0.08
08/18/2020
04/29/2020
Dividend USD 0.08
05/13/2020
02/06/2020
Dividend USD 0.08
02/20/2020
10/30/2019
Dividend USD 0.08
11/14/2019
08/01/2019
Dividend USD 0.06
08/14/2019
05/02/2019
Dividend USD 0.06
05/15/2019
02/06/2019
Dividend USD 0.06
02/14/2019
--
Dividend USD 0.06
11/15/2018
Access Level 2 Advance
Nasdaq TotalView
for Free
Get Now
About AMAL
Amalgamated Bank is a commercial bank and a chartered trust company that provides banking services. The Company offers solutions in the areas of personal banking, small business, commercial banking and institutional investing. Its product line includes residential mortgage loans, commercial and industrial loans, commercial real estate loans, multifamily mortgages, and a variety of commercial and consumer deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts and certificates of deposit. It also offer online banking and bill payment services, online cash management, safe deposit box rentals, debit card and automated teller machine (ATM) card services. Its corporate divisions include Commercial Banking, Trust and Investment Management and Consumer Banking.
More
Hot Stocks
Symbol
Price
%Change

Webull offers kinds of Amalgamated Bank stock information, including NASDAQ:AMAL real-time market quotes, financial reports, professional analyst ratings, in-depth charts, corporate actions, AMAL stock news, and many more online research tools to help you make informed decisions.

You can practice and explore trading AMAL stock methods without spending real money on the virtual paper trading platform.