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Amalgamated Financial Corp. - AMAL STOCK NEWS

Welcome to our dedicated page for Amalgamated Financial news (Ticker: AMAL), a resource for investors and traders seeking the latest updates and insights on Amalgamated Financial stock.

Amalgamated Financial Corp. Common Stock (DE) (symbol: AMAL) is a distinguished financial institution with a legacy spanning nearly a century. Established in 1923 by the Amalgamated Clothing Workers of America, it has grown into a trusted bank holding company, providing comprehensive commercial banking and trust services nationally through its wholly-owned subsidiary, Amalgamated Bank. Headquartered in New York City, Amalgamated Bank operates five branches across New York City, Washington D.C., and San Francisco, along with a commercial office in Boston.

As a full-service commercial bank and chartered trust company, Amalgamated Financial Corp. offers a wide array of financial products and services to both commercial and retail customers. This includes commercial banking, investment management, and trust and custody services. The company has a particular focus on supporting progressive organizations and individuals who work towards creating a more just, compassionate, and sustainable world.

Amalgamated Financial Corp. is well-regarded for its unique financial services tailored to labor unions, philanthropies, political campaigns, socially and environmentally responsible corporations, and individuals. It is a proud member of the Global Alliance for Banking on Values and a certified B Corporation®. As of December 31, 2023, the company reported total assets of $8.0 billion, total net loans of $4.3 billion, and total deposits of $7.0 billion. Additionally, its trust business held $41.7 billion in assets under custody and $14.8 billion in assets under management.

Amalgamated Financial Corp. has shown strong financial performance, with a Common Equity Tier 1 Capital Ratio of 13.68% and a Return on Average Assets of 1.36% as of March 31, 2024. Recent achievements include a 50% increase in its quarterly dividend and an ongoing commitment to investing in Residential Property Assessed Clean Energy (R-PACE) assessments through a partnership with Home Run Finance (HRF).

News highlights include their announcement of a regular dividend of $0.15 per share, payable on May 8, 2024, and their financial results for the first quarter of 2024, reporting a net income of $27.2 million. The company continues to show resilience and progress in the financial industry, driven by its strong commitment to social responsibility and exemplary financial practices.

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Amalgamated Financial Corp. (Nasdaq: AMAL) announced that it will release its second quarter 2024 financial results on July 25, 2024, before market open. The company will also host a conference call at 11:00 a.m. Eastern Time the same day to discuss these results. Interested investors and analysts can join the call by dialing specific numbers provided or by accessing a live audio webcast available on Amalgamated's investor relations website. A replay of the conference call will be accessible online and via telephone until August 1, 2024.

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Blue Wolf Capital Partners has appointed Steve Sleigh as a Senior Advisor, succeeding Mike Musuraca, who retired after over a decade of service. Sleigh brings extensive experience from his consultancy, Sleigh Strategy, and previous roles in labor and investment realms. His expertise will aid Blue Wolf in labor management, new investments, and expanding partnerships with labor unions and institutional investors. This move continues Blue Wolf's tradition of integrating labor strategies to manage complexity and drive growth.

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Amalgamated Financial Corp. announced an additional $85 million investment to fund Residential Property Assessed Clean Energy (R-PACE) assessments through its partnership with Home Run Finance. As of March 31, 2024, the company has funded over 21,000 R-PACE assessments, with a total book value surpassing $1.1 billion for both commercial and residential PACE assessments. This initiative aims to address environmental sustainability and improve access to affordable home improvement financing in markets like California, Florida, and Missouri.

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Amalgamated Financial Corp. announced the completion of three community solar projects in Oregon, with three more expected by Q3 2024. The company financed the developments with a $25 million construction term facility to SolRiver Capital. The projects will be sold to a tax equity partnership, supporting the Oregon Community Solar Program.

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Amalgamated Financial Corp. reported strong financial results for the first quarter of 2024, with net income of $27.2 million and core net income of $25.6 million. Total deposits increased by $293.8 million, with political deposits rising by 21% to $1.4 billion. Net interest margin expanded to 3.49%, and the company repurchased $0.2 million of common stock. The Common Equity Tier 1 Capital Ratio stood at 13.68%, showcasing the company's financial strength.
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Amalgamated Financial Corp. has announced a 20% increase in its quarterly dividend to $0.12 per common share, with payable and record dates set for May 22, 2024, and May 8, 2024, respectively.
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Amalgamated Financial Corp. announced a 50% increase in its quarterly dividend to $0.15 per common share, payable on May 8, 2024. The Board of Directors authorized this increase, reflecting a positive financial outlook for the company.
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Amalgamated Financial Corp. (AMAL) will release its first quarter 2024 financial results on April 25, 2024, followed by a conference call to discuss the results. Investors can join the call or access the webcast for insights.
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Amalgamated Financial Corp. released their financial results for Q4 2023, reporting net income of $22.7 million, a 0.4% increase from the previous quarter. Total deposits increased by 0.3% to $7.0 billion, with a $21.1 million increase in on-balance sheet deposits. Net loans receivable increased by 1.1% to $4.3 billion. The company also announced a 12.98% Common Equity Tier 1 Capital Ratio and a 1.13% Return on Average Assets.
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Amalgamated Financial Corp. (AMAL) has declared a regular dividend of $0.10 per share to common stockholders, payable on February 23, 2024. The future dividend payments will be at the discretion of the Board of Directors.
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FAQ

What services does Amalgamated Financial Corp. offer?

Amalgamated Financial Corp. offers commercial banking, investment management, and trust and custody services to both commercial and retail customers.

Where is Amalgamated Financial Corp. headquartered?

Amalgamated Financial Corp. is headquartered in New York City, with branches in Washington D.C., San Francisco, and a commercial office in Boston.

What is Amalgamated Financial Corp.'s focus?

The company focuses on supporting progressive organizations and individuals, including labor unions, philanthropies, political campaigns, and socially responsible corporations.

Is Amalgamated Financial Corp. certified for its social responsibility?

Yes, Amalgamated Financial Corp. is a certified B Corporation® and a member of the Global Alliance for Banking on Values.

What are some recent financial highlights for Amalgamated Financial Corp.?

Recent highlights include a net income of $27.2 million for Q1 2024, a 50% increase in its quarterly dividend, and continued investments in R-PACE assessments.

How does Amalgamated Financial Corp. support environmental sustainability?

Amalgamated Financial Corp. supports environmental sustainability through investments in R-PACE assessments, which finance energy efficiency, renewable energy, and resiliency improvements.

What financial metrics indicate Amalgamated Financial Corp.'s performance?

Key metrics include a Common Equity Tier 1 Capital Ratio of 13.68% and a Return on Average Assets of 1.36% as of March 31, 2024.

What is the significance of Amalgamated Financial Corp.'s dividend increase?

The 50% increase in the quarterly dividend to $0.15 per share reflects the company's strong financial health and commitment to returning value to shareholders.

What assets does Amalgamated Financial Corp. manage?

As of December 31, 2023, the company managed $41.7 billion in assets under custody and $14.8 billion in assets under management.

How does Amalgamated Financial Corp. contribute to social justice?

The company works to make the world more just, compassionate, and sustainable by providing financial services to organizations and individuals dedicated to social progress.

Amalgamated Financial Corp.

Nasdaq:AMAL

AMAL Rankings

AMAL Stock Data

869.02M
30.52M
42.24%
55.04%
2.49%
Commercial Banking
Finance and Insurance
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United States of America
NEW YORK