Amalgamated Financial Q2 adjusted EPS misses estimates, margin flat

Amalgamated Financial

24/07/2025 11:34

Corrects Adjusted EPS to $0.88, from $0.84, in Key Details table; changes to 'EPS beats estimates' from 'EPS misses estimates' in headline and Overview section

Overview

Amalgamated Financial Q2 net income rises to $26.0 mln, driven by increased non-core income

Adjusted EPS for Q2 beats analyst expectations, per LSEG data

Net interest margin remained unchanged at 3.55%

Deposits grow 4.3% to $7.7 bln, political deposits jump 13%

Outlook

Company expects tax rate to be 27.3% going forward

Result Drivers

NON-CORE INCOME - Increase in non-core income from solar tax equity investments contributed to net income growth

DEPOSIT GROWTH - On-balance sheet deposits rose by $321.2 mln, driven by political deposits

CREDIT LOSSES - Provision for credit losses increased due to higher reserve for one syndicated commercial and industrial loan and macroeconomic forecasts

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Miss
$0.88
$0.87 (2 Analysts)
Q2 EPS
$0.84
Q2 Core Net Income
$27 mln
Q2 Net Income
$25.99 mln
Q2 Net Interest Income
$72.91 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Amalgamated Financial Corp is $35.50, about 6.4% above its July 23 closing price of $33.22

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nGNX5XhwDs

 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)