Amalgamated Financial Q3 profit beats expectations on higher interest income

Amalgamated Financial reported a Q3 net income of $26.8 million, surpassing expectations, driven by a $3.5 million increase in net interest income and significant deposit growth. The company repurchased 347,000 shares for $10.4 million. Analysts maintain a "hold" rating, with a median 12-month price target of $31.50, reflecting a potential 15.2% upside from its recent closing price of $26.70. The stock is currently trading at 7 times next year's earnings, down from a P/E of 8 three months ago.