Amalgamated Financial

AMAL · NASDAQ

$47.96+$1.14 (+2.43%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $46.82

AMAL analyst rating

BuyConsensus of 4 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy2
Hold2
Underperform0
Sell0

12-month price target · 5 analysts

Average $55.08 (+14.8% upside)

Low: $53.53
Now: $47.96
High: $57.75

Upgrades and downgrades

The latest rating actions, newest first

AMAL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Raymond James	Sep 3, 2026	Initiates	Outperform	$55.00	59%
Piper Sandler	Jul 27, 2026	Maintains	Neutral	$48.00 → $53.00	68%
Keefe, Bruyette & Woods	Jul 24, 2026	Maintains	Outperform	$53.00 → $54.00	66%
Piper Sandler	Jun 26, 2026	Maintains	Neutral	$44.00 → $48.00	68%
Piper Sandler	Apr 27, 2026	Maintains	Neutral	$41.00 → $44.00	68%
Piper Sandler	Mar 16, 2026	Initiates	Neutral	$38.00 → $41.00	68%
Piper Sandler	Nov 19, 2025	Upgrade	Underweight → Neutral	$27.00 → $28.00	74%

The case for and against

Updated Oct 18, 2026

Bull case

Amalgamated Financial is well positioned by its distinctive socially responsible organization franchise, which supports consistent customer acquisition and a sticky, low-cost funding base highlighted by noninterest-bearing deposits at 41% of total deposits and super core deposits nearing 60%. Its 2Q26 results showed durable fundamentals despite isolated credit noise: PPNR beat by $0.10, NIM rose to 3.78%, loans grew 2.3%, deposits increased 3.4%, and capital stayed strong with CET1 at 14.2% and TCE at 8.7%. With easing credit concerns, strong deposit momentum, and favorable asset utilization driving higher NII and continued balance sheet growth, the company appears capable of sustaining strong profitability and valuation support.

Bear case

Amalgamated Financial is facing a cautious fundamental backdrop because modest 1.6% sequential TBVPS growth to $26.59 was accompanied by a 14 bps decline in its TCE ratio to 8.67%, signaling limited capital flexibility as the balance sheet expands. Credit trends also remain a concern, with provision missing by $0.01, NPAs rising 2 bps to 1.99% on a $5.3mm NYC multifamily loan, and NCOs still at 25 bps despite criticized loans easing to 3.0%. Given its exposure to interest rate risk, credit risk, increased competition, and the possibility of a prolonged weak economic environment, the bank appears vulnerable to deteriorating asset quality and missed growth or profitability expectations.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.