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Amalgamated Bank

Nasdaq:AMAL
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AMAL
Nasdaq
$551M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Amalgamated Bank, together with its subsidiaries, provides commercial banking and retail banking products and services in the United States. The last earnings update was 64 days ago. More info.


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AMAL Share Price and Events
7 Day Returns
-2.3%
NasdaqGM:AMAL
0.3%
US Banks
0.8%
US Market
1 Year Returns
-
NasdaqGM:AMAL
-2.5%
US Banks
4.8%
US Market
AMAL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Amalgamated Bank (AMAL) -2.3% 2% 9.3% - - -
US Banks 0.3% 4% 2.2% -2.5% 47.8% 48.2%
US Market 0.8% 4.3% 2.8% 4.8% 37.9% 43.5%
1 Year Return vs Industry and Market
  • No trading data on AMAL.
  • No trading data on AMAL.
Price Volatility
Industry
5yr Volatility vs Market

AMAL Value

 Is Amalgamated Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Amalgamated Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Amalgamated Bank.

NasdaqGM:AMAL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $16.00 * 10.3%
$1.65
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $16.00
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:AMAL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (58.48%))
0.914
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.914 * 5.96%)
8.18%

Discounted Cash Flow Calculation for NasdaqGM:AMAL using Excess Returns Model Model

The calculations below outline how an intrinsic value for Amalgamated Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:AMAL Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.3% – 8.18%) * $16.00)
$0.34
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.34 / (8.18% - 2.73%)
$6.32
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $16.00 + $6.32
$22.32
NasdaqGM:AMAL Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.32
Current discount Discount to share price of $17.34
= -1 x ($17.34 - $22.32) / $22.32
22.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Amalgamated Bank is available for.
Intrinsic value
22%
Share price is $17.34 vs Future cash flow value of $22.32
Current Discount Checks
For Amalgamated Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Amalgamated Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Amalgamated Bank's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Amalgamated Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Amalgamated Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:AMAL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.53
NasdaqGM:AMAL Share Price ** NasdaqGM (2019-07-15) in USD $17.34
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 12.88x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 18.01x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Amalgamated Bank.

NasdaqGM:AMAL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:AMAL Share Price ÷ EPS (both in USD)

= 17.34 ÷ 1.53

11.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amalgamated Bank is good value based on earnings compared to the US Banks industry average.
  • Amalgamated Bank is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Amalgamated Bank's expected growth come at a high price?
Raw Data
NasdaqGM:AMAL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
9.5%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.28x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NasdaqGM:AMAL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.36x ÷ 9.5%

1.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amalgamated Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Amalgamated Bank's assets?
Raw Data
NasdaqGM:AMAL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $14.33
NasdaqGM:AMAL Share Price * NasdaqGM (2019-07-15) in USD $17.34
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NasdaqGM:AMAL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:AMAL Share Price ÷ Book Value per Share (both in USD)

= 17.34 ÷ 14.33

1.21x

* Primary Listing of Amalgamated Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amalgamated Bank is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Amalgamated Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Amalgamated Bank has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AMAL Future Performance

 How is Amalgamated Bank expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Amalgamated Bank expected to grow at an attractive rate?
  • Amalgamated Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Amalgamated Bank's earnings growth is positive but not above the United States of America market average.
  • Amalgamated Bank's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:AMAL Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:AMAL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 9.5%
NasdaqGM:AMAL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5.9%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.7%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:AMAL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:AMAL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 220 59 1
2020-12-31 209 52 3
2019-12-31 197 47 5
NasdaqGM:AMAL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 185 37 48
2018-12-31 178 31 45
2018-09-30 169 41 25
2018-06-30 160 103 20
2018-03-31 146 23 11
2017-12-31 142 24 6
2016-12-31 128 9 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Amalgamated Bank's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • Amalgamated Bank's revenue is expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:AMAL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Amalgamated Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:AMAL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.91 1.91 1.91 1.00
2020-12-31 1.66 1.80 1.45 6.00
2019-12-31 1.44 1.56 1.38 6.00
NasdaqGM:AMAL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.53
2018-12-31 1.47
2018-09-30 0.85
2018-06-30 0.70
2018-03-31 0.38
2017-12-31 0.21
2016-12-31 0.38

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Amalgamated Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Amalgamated Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Amalgamated Bank has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AMAL Past Performance

  How has Amalgamated Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Amalgamated Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Amalgamated Bank's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Amalgamated Bank's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Amalgamated Bank's earnings growth has exceeded the US Banks industry average in the past year (343.9% vs 40.7%).
Earnings and Revenue History
Amalgamated Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Amalgamated Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:AMAL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 185.36 47.78 118.84
2018-12-31 178.32 44.63 116.22
2018-09-30 168.51 25.05 115.29
2018-06-30 159.80 20.08 111.40
2018-03-31 146.19 10.76 112.58
2017-12-31 142.00 5.95 112.51
2016-12-31 127.59 10.54 105.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Amalgamated Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Amalgamated Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Amalgamated Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Amalgamated Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Amalgamated Bank has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AMAL Health

 How is Amalgamated Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Amalgamated Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Amalgamated Bank Company Filings, last reported 3 months ago.

NasdaqGM:AMAL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 455.48 253.78 132.15
2018-12-31 439.37 92.88 73.75
2018-09-30 421.03 121.68 100.33
2018-06-30 406.31 141.68 162.02
2018-03-31 346.59 401.78 53.54
2017-12-31 344.07 402.61 116.46
2016-12-31 341.11 638.87 140.64
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Amalgamated Bank has an acceptable proportion of non-loan assets held.
  • Amalgamated Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Amalgamated Bank are broadly funded by customer deposits.
  • Amalgamated Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Amalgamated Bank has a low allowance for bad loans.
  • Amalgamated Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Amalgamated Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Amalgamated Bank has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AMAL Dividends

 What is Amalgamated Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.38%
Current annual income from Amalgamated Bank dividends. Estimated to be 1.58% next year.
If you bought $2,000 of Amalgamated Bank shares you are expected to receive $28 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Amalgamated Bank's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • Amalgamated Bank's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:AMAL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2018 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:AMAL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.36 1.00
2020-12-31 0.28 4.00
2019-12-31 0.25 4.00
NasdaqGM:AMAL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-03 0.240 1.389
2019-02-06 0.240 1.441
2018-11-06 0.240 1.238

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Amalgamated Bank has stable dividend payments.
  • Amalgamated Bank only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Amalgamated Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (12.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.7x coverage).
X
Income/ dividend checks
We assess Amalgamated Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Amalgamated Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Amalgamated Bank has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AMAL Management

 What is the CEO of Amalgamated Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Keith Mestrich
COMPENSATION $2,124,451
AGE 52
TENURE AS CEO 5.5 years
CEO Bio

Keith R. Mestrich is President and Chief Executive Officer of Amalgamated Bank (the “Company”). He has three decades of experience in the finance, many of those assisting the Bank’s core constituencies in labor, non-profits, political organizations, and issue-advocacy campaigns. He joined the company in 2012 and directed the company’s Washington, D.C. operation where he rebuilt the company’s presence in the nation's capital. He was appointed CEO in June 2014. In 2017, he guided the bank’s acquisition of San Francisco-based New Resource Bank (NRB), creating the nation’s largest socially responsible bank. Prior to joining the company, he served as Chief Financial Officer and Deputy Chief of Staff for the Service Employees International Union (SEIU). In his role at SEIU, he also served as a trustee on three separate Taft-Hartley funds for the SEIU Master Trust. His prior experience also includes serving as the First Chief of Staff of Worker's United. Prior to this, he worked at the clothing workers union known as UNITE, where he served in various capacities including Director of Corporate Affairs, President of one of the union's locals and Executive Assistant to the International President. He began his career in the labor movement as a Corporate Researcher at the AFL-CIO. He graduated magna cum laude from Kalamazoo College with a degree in Political Science and Public Policy, where he was elected as a Member of Phi Beta Kappa. Additional Honors & Board Involvement • Named on Washington Life Magazine’s “Power 100 List” (May 2016) • Named on City & State’s “25 Most Influential Leaders in Manhattan” (April 2017) • Named on New York Non-Profit Media’s “50 Over 50” Honorees (October 2017) • Member of the Board of Directors, The Mayor’s Fund for New York City • Finance Leaders Fellow, The Aspen Institute • Member, Aspen Global Leadership Network • Member of the Board of Directors, The Roosevelt Institute • Member of the Board of Directors, Democracy Alliance • Member of the Board of Directors, The Sidney Hillman Foundation • Member of the Advisory Board, Remember the Triangle Fire Coalition • Member of the Advisory Board, Girls Who Invest • Member of the Advisory Board, The Patriotic Millionaires • Member, Habitat for Humanity NYC Leadership Council • Trustee, the Consolidated Retirement Fund • Former Member of the Board of Directors, Progressive Congress • Former Member of the Board of Directors, The Workers Lab • Former Member of the Board of Directors, Working America Education Fund • Former Member of the Board of Directors, The Public Utility Law Project • Former Member of the Board of Directors, Hot Bread Kitchen • Former Member of the Board of Directors, National Consumers League • Former Member of the Board of Directors, D.C. Employment Justice Committee

CEO Compensation
  • Keith's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Keith's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Amalgamated Bank management team in years:

2.9
Average Tenure
56
Average Age
  • The tenure for the Amalgamated Bank management team is about average.
Management Team

Keith Mestrich

TITLE
President
COMPENSATION
$2M
AGE
52
TENURE
5.5 yrs

Andrew LaBenne

TITLE
Senior EVP & CFO
COMPENSATION
$1M
AGE
45
TENURE
4.3 yrs

Martin Murrell

TITLE
Senior EVP & COO
COMPENSATION
$783K
AGE
56
TENURE
3.5 yrs

Edgar Romney

TITLE
Executive VP
COMPENSATION
$45K
AGE
76
TENURE
2.9 yrs

Jason Darby

TITLE
Chief Accounting Officer
AGE
47
TENURE
1.4 yrs

Barbara Kissner

TITLE
Executive VP & Chief Information Officer
TENURE
1.5 yrs

Jim Paul

TITLE
Executive VP & Chief Administrative Officer
AGE
75
TENURE
1.3 yrs

Deborah Silodor

TITLE
Executive VP & General Counsel
AGE
59
TENURE
4.5 yrs

Peter Neiman

TITLE
Chief Marketing Officer & Executive VP
TENURE
2.9 yrs

Tanisa Williams

TITLE
Senior VP & Director of Human Resources
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the Amalgamated Bank board of directors in years:

6
Average Tenure
69.5
Average Age
  • The tenure for the Amalgamated Bank board of directors is about average.
Board of Directors

Lynne Fox

TITLE
Chairman of the Board
COMPENSATION
$90K
AGE
61
TENURE
3.2 yrs

Keith Mestrich

TITLE
President
COMPENSATION
$2M
AGE
52
TENURE
5.5 yrs

Edgar Romney

TITLE
Executive VP
COMPENSATION
$45K
AGE
76
TENURE
24 yrs

Don Bouffard

TITLE
Director
COMPENSATION
$90K
AGE
74
TENURE
7.4 yrs

Robert Dinerstein

TITLE
Director
COMPENSATION
$90K
AGE
76
TENURE
7.9 yrs

John McDonagh

TITLE
Director
COMPENSATION
$90K
AGE
68
TENURE
6.5 yrs

Robert Romasco

TITLE
Director
COMPENSATION
$90K
AGE
71
TENURE
4.8 yrs

Patricia Dennis

TITLE
Director
COMPENSATION
$22K
AGE
72
TENURE
0.9 yrs

Julie Bracero-Kelly

TITLE
Director
COMPENSATION
$45K
AGE
52
TENURE
9.3 yrs

Steve Sleigh

TITLE
Director
COMPENSATION
$45K
AGE
63
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Aug 18 Buy Jason Darby Individual 13. Aug 18 13. Aug 18 3,000 $15.50 $46,500
05. Sep 18 Buy Jason Darby Individual 05. Sep 18 05. Sep 18 250 $17.89 $4,473
12. Apr 19 Buy Maryann Bruce Individual 13. Mar 19 15. Mar 19 900 $16.79 $15,045
10. Apr 19 Buy Maryann Bruce Individual 01. Feb 19 01. Feb 19 100 $18.80 $1,880
13. Aug 18 Buy Stephen Sleigh Individual 13. Aug 18 13. Aug 18 1,000 $15.50 $15,500
14. Aug 18 Sell WL Ross & Co. LLC Company 13. Aug 18 13. Aug 18 -1,449,598 $14.42 $-20,895,955
13. Aug 18 Buy Donald Bouffard Individual 13. Aug 18 13. Aug 18 1,200 $15.50 $18,600
13. Aug 18 Buy Sam Brown Individual 13. Aug 18 13. Aug 18 3,000 $15.50 $46,500
13. Aug 18 Buy Robert Dinerstein Individual 13. Aug 18 13. Aug 18 1,000 $15.50 $15,500
13. Aug 18 Buy Maryann Bruce Individual 13. Aug 18 13. Aug 18 1,000 $15.50 $15,500
13. Aug 18 Buy Edgar Romney Individual 13. Aug 18 13. Aug 18 2,500 $15.50 $38,750
13. Aug 18 Buy Robert Romasco Individual 13. Aug 18 13. Aug 18 1,500 $15.50 $23,250
13. Aug 18 Buy Martin Murrell Individual 13. Aug 18 13. Aug 18 300 $15.50 $4,650
13. Aug 18 Buy James Paul Individual 13. Aug 18 13. Aug 18 3,000 $15.50 $46,500
13. Aug 18 Buy Andrew LaBenne Individual 13. Aug 18 13. Aug 18 2,000 $15.50 $31,000
15. Aug 18 Sell The Yucaipa Companies, LLC Company 13. Aug 18 13. Aug 18 -1,446,701 $15.50 $-22,423,866
13. Aug 18 Buy Julie Bracero-Kelly Individual 13. Aug 18 13. Aug 18 300 $15.50 $4,650
13. Aug 18 Buy Lynne Fox Individual 13. Aug 18 13. Aug 18 300 $15.50 $4,650
13. Aug 18 Buy John McDonagh Individual 13. Aug 18 13. Aug 18 3,000 $15.50 $46,500
13. Aug 18 Buy Patricia Dennis Individual 13. Aug 18 13. Aug 18 1,200 $15.50 $18,600
13. Aug 18 Buy Mark Finser Individual 13. Aug 18 13. Aug 18 14,000 $15.50 $217,000
13. Aug 18 Buy Keith Mestrich Individual 13. Aug 18 13. Aug 18 300 $15.50 $4,650
X
Management checks
We assess Amalgamated Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Amalgamated Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AMAL News

Simply Wall St News

Why Amalgamated Bank (NASDAQ:AMAL) Is A Top Dividend Stock

Some readers mightn't know much about Amalgamated Bank's 1.4% dividend, as it has only been paying distributions for a year or so. … Next, earnings growth has been good, but unfortunately the company has not been paying dividends as long as we'd like. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

Here's Why I Think Amalgamated Bank (NASDAQ:AMAL) Is An Interesting Stock

See our latest analysis for Amalgamated Bank How Fast Is Amalgamated Bank Growing Its Earnings Per Share? … It's good to see Amalgamated Bank insiders walking the walk, by spending US$620k on shares in just twelve months. … The good news is that Amalgamated Bank is not the only growth stock with insider buying.

Simply Wall St -

Is Amalgamated Bank's (NASDAQ:AMAL) P/E Ratio Really That Good?

We'll look at Amalgamated Bank's (NASDAQ:AMAL) P/E ratio and reflect on what it tells us about the company's share price. … Amalgamated Bank has a price to earnings ratio of 11.68, based on the last twelve months. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Amalgamated Bank: P/E of 11.68 = $17.83 ÷ $1.53 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Is Amalgamated Bank (NASDAQ:AMAL) Over-Exposed To Risk?

As a small-cap bank with a market capitalisation of US$493m, Amalgamated Bank’s (NASDAQ:AMAL) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Amalgamated Bank’s bottom line. … Today we will analyse Amalgamated Bank’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Did Amalgamated Bank (NASDAQ:AMAL) Insiders Buy Up More Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Amalgamated Bank (NASDAQ:AMAL). … The Last 12 Months Of Insider Transactions At Amalgamated Bank. … In the last twelve months there was more buying than selling by Amalgamated Bank insiders

Simply Wall St -

Despite Its High P/E Ratio, Is Amalgamated Bank (NASDAQ:AMAL) Still Undervalued?

To keep it practical, we'll show how Amalgamated Bank's (NASDAQ:AMAL) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Amalgamated Bank's P/E ratio is 21.45. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Can Amalgamated Bank (NASDAQ:AMAL) Survive The Next Financial Crisis?

As a small-cap finance stock with a market capitalisation of US$651m, the risk and profitability of Amalgamated Bank (NASDAQ:AMAL) are largely tied to the underlying economic growth of the region it operates in US. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Amalgamated Bank to vulnerabilities. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels.

Simply Wall St -

Is Amalgamated Bank (NASDAQ:AMAL) A Good Dividend Stock?

Amalgamated Bank (NASDAQ:AMAL) has started paying a dividend to shareholders. … Let's take a look at Amalgamated Bank in more detail. … View our latest analysis for Amalgamated Bank

Simply Wall St -

Amalgamated Bank (NASDAQ:AMAL) Investors Are Paying Above The Intrinsic Value

Given that these companies adhere to a different set of rules relative to other companies, their cash flows should also be valued differently. … For example, banks are required to hold more capital to reduce the risk to depositors.

Simply Wall St -

Have You Considered These Key Risks For Amalgamated Bank (NASDAQ:AMAL)?

As a small-cap bank with a market capitalisation of US$700m, Amalgamated Bank’s (NASDAQ:AMAL) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off Amalgamated Bank’s bottom line. … Today we will analyse Amalgamated Bank’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

AMAL Company Info

Description

Amalgamated Bank, together with its subsidiaries, provides commercial banking and retail banking products and services in the United States. The company offers deposit products, including time deposits, non-interest and interest-bearing demand accounts, savings and money market accounts, NOW accounts, and certificates of deposit. It also provides residential mortgage and commercial real estate loans, commercial and industrial loans, multifamily mortgages, 1-4 family real estate loans, construction and land loans, leveraged loans for commercial loans, consumer/small business and purchased student loans, and home equity lines of credit; and debit and ATM card services. In addition, the company offers online banking, bill payment, online cash management, and safe deposit box rental services; and institutional trust, custody, and investment management services comprising asset safekeeping, corporate actions, income collections, proxy, account transition, asset transfers, and conversion management services. Further, it provides investment products; securities; and asset allocation, life insurance, brokerage, and asset management services. It serves advocacy-based non-profits, social welfare organizations, labor unions, political organizations, foundations, socially responsible businesses, and other for-profit companies, as well as their members and stakeholders. The company operates a network of 12 branches in New York City; 1 branch in Washington, D.C.; 1 branch in San Francisco; 1 representative office in Pasadena, California; and 1 loan production office in Boulder, Colorado, as well as a digital banking and mobile platform. The company was formerly known as Amalgamated Bank of New York and changed its name to Amalgamated Bank in 2000. The company was founded in 1923 and is headquartered in New York, New York. Amalgamated Bank is a subsidiary of Workers United.

Details
Name: Amalgamated Bank
AMAL
Exchange: NasdaqGM
Founded: 1923
$550,919,283
31,771,585
Website: http://www.amalgamatedbank.com
Address: Amalgamated Bank
275 Seventh Avenue,
New York,
New York, 10001,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM AMAL Class A Common Stock Nasdaq Global Market US USD 08. Jun 2018
Number of employees
Current staff
Staff numbers
421
Amalgamated Bank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 01:24
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/08
Last earnings filing: 2019/05/13
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.