Amalgamated Financial Corp. (NASDAQ:AMAL) Hikes Dividend And Signals Near‑Term Lending Momentum

Amalgamated Financial Corps’ recent corporate actions and mixed technical backdrop set a conditional near‑term bias: corporate cash returns and deal activity support upside, while valuation and longer‑term averages cap extension.

Recent News

On July 22, 2025 the Board declared a $0.14 quarterly dividend payable August 21, 2025 to holders of record August 5, 2025. On August 5, 2025 Amalgamated Bank closed a $1.7M retroactive C‑PACE transaction to support a Nashville retail redevelopment.

Technical Analysis

Directional indicators (ADX / DI+ / DI-): ADX at 25.0 signals a present trend strength. DInegative shows a peak & reversal and DIpositive shows a dip & reversal, which together indicate directional pressure shifting toward bullish directional momentum despite DInegative currently sitting above DIpositive.

MACD: MACD reads -0.48 with a MACD trend labeled dip & reversal, indicating a nascent return of bullish momentum; MACD remains below the signal line (-0.45), so a confirming bullish crossover has not yet occurred.

MRO (Momentum/Regression Oscillator): MRO sits at -4.09 with a peak & reversal trend; the negative MRO implies price below target and latent upside potential while the peak & reversal label documents a recent turning point.

RSI: RSI at 44.75 with a dip & reversal indicates recent weakness followed by recovering momentum toward neutral territory, consistent with MACD’s early re-acceleration signal.

Price vs. averages and bands: Last close $27.49 sits below the 50‑day average ($28.42) and the 200‑day average ($30.42), and near the 20‑day average ($27.54). Bollinger upper/lower bands show a narrow 1–2x band range (lower ~ $26.34–$26.94, upper ~ $28.14–$28.74), implying contained volatility and a tight trading band for now.

Momentum context: The combination of emerging MACD/RSI rebounds and a negative MRO suggests upside potential that requires confirmation by a MACD crossover or a sustained move above short‑term averages before trend strength extends toward the 50‑ and 200‑day levels.

 


Fundamental Analysis

Earnings and cash flow: Q2 results reported on July 24, 2025 show EPS $0.88 versus estimate $0.87, an EPS surprise of +1.15%. The company reported net income $25,989,000 and operating cash flow $24,925,000.

Profitability and margins: Return on assets registers 0.307% and return on equity 3.447%; both fall below the industry peer mean for these measures (ROA industry peer mean 0.398%, ROE industry peer mean 4.102%), indicating lower profitability relative to the peer mean. Net interest income measured $72,909,000, supporting a reported margin of 3.55% in the quarter as disclosed in the earnings release.

Top‑line and growth rates: Total revenue $80,883,000 with reported revenue growth of 1.751% on the latest period basis, but revenue growth year‑over‑year equals -64.952% while quarter‑over‑quarter revenue rose +27.345% — a volatile growth profile driven by period comparables and likely one‑off timing effects.

Balance sheet and leverage: Total assets $8,621,338,000 and total equity $753,984,000 yield an asset‑to‑equity ratio ~11.43 and debt‑to‑assets of 1.054%, well below the industry peer mean debt‑to‑assets of 16.123%; debt‑to‑equity sits at 0.1205 versus an industry peer mean of 2.01638, indicating relatively light leverage compared with the peer mean.

Valuation multiples and capital returns: P/E stands at 35.57x (PE QoQ +4.81%, PE YoY +14.79%); price‑to‑book at 1.20 is above the industry peer mean book multiple of 0.78278 and above the industry peer median 0.99475. Forward P/E equals 34.67x. Free cash flow yield at 2.825% contracted QoQ and YoY, while dividend yield reads 0.494% with a payout ratio of 17.23% and dividend coverage of 5.80x; the Board’s declared $0.14 quarterly dividend aligns with the modest payout ratio and available cash flow.

Valuation posture: The current valuation as determined by WMDST classifies the stock as over‑valued, reflecting stretched earnings multiples and muted free cash flow yield against the company’s profitability profile and price placement below longer‑term averages.

MOST-RECENT QUARTERLY REPORT
REPORT PERIOD ENDING: 2025-06-30
REPORT DATE: 2025-07-24
NEXT REPORT DATE: 2025-10-23
CASH FLOW  Begin Period Cash Flow $ 65.7 M
 Operating Cash Flow $ 24.9 M
 Capital Expenditures —
 Change In Working Capital $ -8.11 M
 Dividends Paid $ -4.48 M
 Cash Flow Delta $ 105.4 M
 End Period Cash Flow $ 171.1 M
 
INCOME STATEMENT REVENUE
 Total Revenue $ 80.9 M
 Forward Revenue $ 20.6 M
COSTS
 Cost Of Revenue —
 Depreciation $ 344.0 K
 Depreciation and Amortization $ 487.0 K
 Research and Development —
 Total Operating Expenses —
PROFITABILITY
 Gross Profit —
 EBITDA —
 EBIT —
 Operating Income —
 Interest Income $ 104.1 M
 Interest Expense $ 31.2 M
 Net Interest Income $ 72.9 M
 Income Before Tax $ 35.5 M
 Tax Provision $ 9.5 M
 Tax Rate 26.7 %
 Net Income $ 26.0 M
 Net Income From Continuing Operations $ 26.0 M
EARNINGS
 EPS Estimate $ 0.87
 EPS Actual $ 0.88
 EPS Difference $ 0.01
 EPS Surprise 1.149 %
 Forward EPS $ 0.87
 
BALANCE SHEET ASSETS
 Total Assets $ 8.6 B
 Intangible Assets $ 14.1 M
 Net Tangible Assets $ 739.8 M
 Total Current Assets —
 Cash and Short-Term Investments —
 Cash $ 171.1 M
 Net Receivables $ 55.5 M
 Inventory —
 Long-Term Investments —
LIABILITIES
 Accounts Payable —
 Short-Term Debt —
 Total Current Liabilities —
 Net Debt —
 Total Debt $ 90.9 M
 Total Liabilities $ 7.9 B
EQUITY
 Total Equity $ 754.0 M
 Retained Earnings $ 522.4 M
VALUATION & PER-SHARE METRICS EQUITY & PER-SHARE METRICS
 Book Value Per-Share $ 24.79
 Shares Outstanding 30.412 M
 Revenue Per-Share $ 2.66
VALUATION
 Market Capitalization $ 907.6 M
 Enterprise Value $ 998.4 M
 Enterprise Multiple —
Enterprise Multiple QoQ —
Enterprise Multiple YoY —
Enterprise Multiple IPRWA —
 EV/R 12.344
CAPITAL STRUCTURE
 Asset To Equity 11.434
 Asset To Liability 1.096
 Debt To Capital 0.108
 Debt To Assets 0.011
Debt To Assets QoQ 0.573 %
Debt To Assets YoY 498.864 %
Debt To Assets IPRWA high: 0.24
median: 0.161
mean: 0.161
AMAL: 0.011
low: 0.006
 Debt To Equity 0.12
Debt To Equity QoQ 2.093 %
Debt To Equity YoY 435.794 %
Debt To Equity IPRWA high: 4.097
median: 2.302
mean: 2.016
AMAL: 0.12
low: 0.079
PRICE-BASED VALUATION
 Price To Book (P/B) 1.204
Price To Book QoQ -3.379 %
Price To Book YoY -3.631 %
Price To Book IPRWA high: 3.278
AMAL: 1.204
median: 0.995
mean: 0.783
low: 0.0
 Price To Earnings (P/E) 35.574
Price To Earnings QoQ 4.808 %
Price To Earnings YoY 14.793 %
Price To Earnings IPRWA high: 80.502
mean: 42.38
median: 39.912
AMAL: 35.574
low: 0.013
 PE/G Ratio —
 Price To Sales (P/S) 11.221
Price To Sales QoQ -2.722 %
Price To Sales YoY 11.255 %
Price To Sales IPRWA high: 28.205
AMAL: 11.221
median: 5.436
mean: 5.142
low: 0.005
FORWARD MULTIPLES
Forward P/E 34.674
Forward PE/G —
Forward P/S 44.086
EFFICIENCY OPERATIONAL
 Operating Leverage —
ASSET & SALES
 Asset Turnover Ratio 0.01
Asset Turnover Ratio QoQ -0.416 %
Asset Turnover Ratio YoY -1.947 %
Asset Turnover Ratio IPRWA high: 0.024
median: 0.012
mean: 0.012
AMAL: 0.01
low: 0.003
 Receivables Turnover 1.463
Receivables Turnover Ratio QoQ 6.961 %
Receivables Turnover Ratio YoY -3.093 %
Receivables Turnover Ratio IPRWA high: 3.454
median: 3.285
mean: 2.875
AMAL: 1.463
low: 0.17
 Inventory Turnover —
Inventory Turnover Ratio QoQ —
Inventory Turnover Ratio YoY —
Inventory Turnover Ratio IPRWA —
 Days Sales Outstanding (DSO) 62.389
CASH CYCLE
 Cash Conversion Cycle Days (CCC) —
Cash Conversion Cycle Days QoQ —
Cash Conversion Cycle Days YoY —
Cash Conversion Cycle Days IPRWA —
CAPITAL DEPLOYMENT
 Cash Conversion Ratio —
 CapEx To Revenue —
 CapEx To Depreciation —
 
CAPITAL, LIQUIDITY & COVERAGE CAPITAL STRUCTURE
 Total Capital $ 829.4 M
 Net Invested Capital $ 829.4 M
 Invested Capital $ 829.4 M
 Net Tangible Assets $ 739.8 M
 Net Working Capital —
LIQUIDITY
 Cash Ratio —
 Current Ratio —
Current Ratio QoQ —
Current Ratio YoY —
Current Ratio IPRWA —
 Quick Ratio —
Quick Ratio QoQ —
Quick Ratio YoY —
Quick Ratio IPRWA —
COVERAGE & LEVERAGE
 Debt To EBITDA —
 Cost Of Debt 25.726 %
 Interest Coverage Ratio —
Interest Coverage Ratio QoQ —
Interest Coverage Ratio YoY —
Interest Coverage Ratio IPRWA —
 Operating Cash Flow Ratio —
TIMING / LIQUIDITY
 Days Payables Outstanding (DPO) —
DIVIDENDS
 Dividend Coverage Ratio 5.802
 Dividend Payout Ratio 0.172
 Dividend Rate $ 0.15
 Dividend Yield 0.005
PERFORMANCE GROWTH
 Asset Growth Rate 4.057 %
 Revenue Growth 1.751 %
Revenue Growth QoQ 27.345 %
Revenue Growth YoY -64.952 %
Revenue Growth IPRWA high: 29.43 %
mean: 11.967 %
AMAL: 1.751 %
median: 1.72 %
low: -19.894 %
 Earnings Growth 0.0 %
Earnings Growth QoQ -100.0 %
Earnings Growth YoY -100.0 %
Earnings Growth IPRWA high: 56.85 %
AMAL: 0.0 %
median: -3.226 %
mean: -3.567 %
low: -38.235 %
MARGINS
 Gross Margin —
Gross Margin QoQ —
Gross Margin YoY —
Gross Margin IPRWA —
 EBIT Margin —
EBIT Margin QoQ —
EBIT Margin YoY —
EBIT Margin IPRWA —
 Return On Sales (ROS) —
Return On Sales QoQ —
Return On Sales YoY —
Return On Sales IPRWA —
CASH FLOW
 Free Cash Flow (FCF) $ 25.6 M
 Free Cash Flow Yield 2.825 %
Free Cash Flow Yield QoQ -20.198 %
Free Cash Flow Yield YoY -17.926 %
Free Cash Flow Yield IPRWA high: 15.466 %
median: 15.466 %
mean: 12.673 %
AMAL: 2.825 %
low: -3.9 %
 Free Cash Growth -21.022 %
Free Cash Growth QoQ -241.725 %
Free Cash Growth YoY 98.921 %
Free Cash Growth IPRWA high: 353.711 %
AMAL: -21.022 %
mean: -43.244 %
median: -65.02 %
low: -812.632 %
 Free Cash To Net Income 0.986
 Cash Flow Margin 32.218 %
 Cash Flow To Earnings 1.003
VALUE & RETURNS
 Economic Value Added $ 0.06
 Return On Assets (ROA) 0.307 %
Return On Assets QoQ 1.32 %
Return On Assets YoY -6.116 %
Return On Assets IPRWA high: 0.613 %
median: 0.409 %
mean: 0.398 %
AMAL: 0.307 %
low: 0.049 %
 Return On Capital Employed (ROCE) —
 Return On Equity (ROE) 0.034
Return On Equity QoQ 1.353 %
Return On Equity YoY -16.759 %
Return On Equity IPRWA high: 0.055
median: 0.041
mean: 0.041
AMAL: 0.034
low: 0.004
 DuPont ROE 3.489 %
 Return On Invested Capital (ROIC) —
Return On Invested Capital QoQ —
Return On Invested Capital YoY —
Return On Invested Capital IPRWA —

Six-Week Outlook

For short‑term swing horizons the technical picture suggests a conditional bullish bias: early momentum indicators (MACD and RSI dip & reversals) plus a negative MRO point toward upside potential, but price remains below the 50‑ and 200‑day averages and the WMDST valuation flags the stock as over‑valued, which likely limits sustained extension. Expect trading to remain range‑bound with a modest upside tilt unless MACD crosses above its signal and price sustains movement above short‑term averages; absent technical confirmation, near‑term activity should favor consolidation around current levels.

About Amalgamated Financial Corp.

Amalgamated Bank (NASDAQ:AMAL) serves as a leading financial institution with a focus on progressive banking principles. Established in 1923 and headquartered in New York, it operates as the bank holding company for Amalgamated Financial Corp. The bank provides a wide range of financial services to both commercial and retail clients throughout the United States. Amalgamated Bank offers an extensive suite of loan products, including commercial and industrial loans, multifamily and commercial real estate financing, and residential mortgages. Its deposit products encompass savings accounts, money market accounts, and certificates of deposit, catering to the diverse financial needs of its customers. The bank also emphasizes digital banking capabilities, providing online banking, bill payment, and cash management services to enhance customer convenience. In addition to traditional banking services, Amalgamated Bank offers investment management and trust services. These services include asset safekeeping and a variety of investment products such as equity, fixed-income, and alternative investments. The bank places a strong emphasis on ethical banking practices and community development, aligning its financial services with social responsibility initiatives.



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