Amalgamated Bank announces $1.7M C-PACE financing for a Nashville retail renovation, supporting energy efficiency and local businesses.
Quiver AI Summary
Amalgamated Bank announced the successful closing of a nearly $1.7 million C-PACE financing for a recently renovated retail project in Nashville, utilizing Allectrify's FASTPACE platform. The project involved the gut rehabilitation of an over 80-year-old retail structure now housing various small businesses, including a new location for M.L. Rose Craft Beer & Burger. Improvements made under the financing include energy-efficient upgrades such as LED lighting, HVAC systems, and better insulation. Amalgamated Bank, recognized as the largest B Corp bank, is committed to facilitating access to capital for energy efficiency and sustainability projects, highlighting how C-PACE financing can support local economies. Both Amalgamated Bank and Allectrify expressed pride in their partnership, emphasizing their roles in making financing accessible for impactful community projects.
Potential Positives
- Amalgamated Bank secured nearly $1.7M in C-PACE financing that supports energy-efficient improvements for a historic retail property, demonstrating its commitment to sustainability and local investment.
- The use of Allectrify’s FASTPACE Platform for this transaction exemplifies innovation in financing and showcases Amalgamated Bank's leadership in efficient, accessible C-PACE solutions.
- This project emphasizes Amalgamated Bank's role as a national leader in climate lending, strengthening its reputation as America’s largest B Corp bank dedicated to socially responsible banking.
- The financing empowers local businesses and boosts the community economy, aligning with Amalgamated Bank's mission to support impactful projects and sustainable practices.
Potential Negatives
- The press release focuses on a specific project, which may limit broader public perception of the company's overall financial health and performance.
- While emphasizing leadership in C-PACE financing, the release does not provide specific financial metrics or impacts, potentially raising questions about the financial benefits of such initiatives.
- The mention of a retroactive financing structure may raise concerns regarding the immediate stability and cash flow of the projects being financed or the company’s operations.
FAQ
What is C-PACE financing?
C-PACE financing supports improvements for energy efficiency, renewable energy, resiliency, and water conservation in commercial properties.
Who is Amalgamated Bank?
Amalgamated Bank is a mission-driven commercial bank and a national leader in climate lending, founded in 1923.
What was the project highlighted in the press release?
The project was a gut rehab of an 80-plus year-old retail structure that houses several small businesses.
How does Allectrify's FASTPACE platform assist in C-PACE financing?
FASTPACE enables banks and lenders to offer C-PACE financing efficiently and with reduced transaction costs for borrowers.
What is the significance of this financing for local economies?
This financing drives investment in healthy building stock, supporting thriving local economies and sustainable practices.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AMAL Insider Trading Activity
$AMAL insiders have traded $AMAL stock on the open market 9 times in the past 6 months. Of those trades, 0 have been purchases and 9 have been sales.
Here’s a breakdown of recent trading of $AMAL stock by insiders over the last 6 months:
- UNITED WORKERS has made 0 purchases and 2 sales selling 46,310 shares for an estimated $1,580,560.
- STATES REGIONAL JOINT BOARD, WORKERS UNITED WESTERN has made 0 purchases and 2 sales selling 46,310 shares for an estimated $1,580,560.
- EDGAR JR ROMNEY (Chief Strategy & Admin Officer) sold 9,782 shares for an estimated $353,521
- TYRONE GRAHAM (EVP, Chief HR Officer) has made 0 purchases and 3 sales selling 4,926 shares for an estimated $145,598.
- SEAN SEARBY (EVP Chief Info. & Ops. Officer) sold 3,000 shares for an estimated $97,470
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$AMAL Hedge Fund Activity
We have seen 89 institutional investors add shares of $AMAL stock to their portfolio, and 102 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MACQUARIE GROUP LTD added 928,788 shares (+inf%) to their portfolio in Q1 2025, for an estimated $26,702,655
- ALLIANCEBERNSTEIN L.P. added 725,695 shares (+1738.5%) to their portfolio in Q1 2025, for an estimated $20,863,731
- BOSTON TRUST WALDEN CORP added 544,044 shares (+inf%) to their portfolio in Q2 2025, for an estimated $16,974,172
- BLACKROCK, INC. removed 325,146 shares (-9.3%) from their portfolio in Q1 2025, for an estimated $9,347,947
- JPMORGAN CHASE & CO removed 301,189 shares (-55.2%) from their portfolio in Q1 2025, for an estimated $8,659,183
- ADAGE CAPITAL PARTNERS GP, L.L.C. added 192,577 shares (+35.1%) to their portfolio in Q1 2025, for an estimated $5,536,588
- LSV ASSET MANAGEMENT added 180,113 shares (+165.5%) to their portfolio in Q1 2025, for an estimated $5,178,248
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$AMAL Analyst Ratings
Wall Street analysts have issued reports on $AMAL in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Keefe, Bruyette & Woods issued a "Outperform" rating on 04/25/2025
To track analyst ratings and price targets for $AMAL, check out Quiver Quantitative's $AMAL forecast page.
$AMAL Price Targets
Multiple analysts have issued price targets for $AMAL recently. We have seen 2 analysts offer price targets for $AMAL in the last 6 months, with a median target of $38.5.
Here are some recent targets:
- Christopher O'Connell from Keefe, Bruyette & Woods set a target price of $39.0 on 04/25/2025
- Mark Fitzgibbon from Piper Sandler set a target price of $38.0 on 02/21/2025
Full Release
NASHVILLE, Tenn., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), today announced the successful closing of a Commercial Property Assessed Clean Energy ("C-PACE") financing under the Davidson County C-PACER Program using Allectrify’s FASTPACE Platform.
The nearly $1.7M retroactive C-PACE financing recapitalized the recently completed project, which is a gut rehab of an 80-plus year-old retail structure. The retail space is home to several bustling small businesses, including the newest location of M.L. Rose Craft Beer & Burger, a popular local chain.
The property is owned and operated by A. Ray Hospitality, a local restaurant group owned by Austin Ray, himself a Nashville-based restaurateur for over two decades. The project includes electrical improvements related to interior & exterior LED lighting, high-efficiency HVAC, improved roof and wall insulation, energy efficient windows, and storm resiliency measures.
As America’s largest B Corp bank and a national leader in climate lending, Amalgamated Bank’s latest C-PACE closing using the FASTPACE platform reflects an ongoing commitment to enabling access to capital for C-PACE projects of all sizes. This closing highlights how an innovative approach to C-PACE financing can be a force for good, driving investment in healthy building stock and thriving local economies.
C-PACE financing supports long-term, competitive financing for commercial property improvements for energy efficiency, renewable energy, resiliency, and water conservation. Amalgamated Bank is a leader in deploying C-PACE capital, and its partnership with FASTPACE enables efficient closing for projects of all sizes.
“We are proud to lead the industry in providing C-PACE as a solution that empowers commercial property owners to finance energy efficiency, resiliency, and sustainability measures without the barriers of high up-front costs,” said Sam Brown, Chief Banking Officer at Amalgamated Bank. “Allectrify has been a tremendous partner in the execution of this deal, making it a seamless and efficient process.”
“Amalgamated Bank walks the walk when it comes to expanding access to capital and investing in impactful local projects,” said Colin Bishopp, Chief Executive Officer of Allectrify. “This retroactive C-PACE financing for a neighborhood spot in Nashville is another prime example. FASTPACE is proud to provide superior service for all parties to efficiently close on the C-PACE financing for this project.”
About Amalgamated Bank:
Amalgamated Bank, the wholly owned banking subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), is a mission-driven full-service commercial bank and a chartered trust company with a combined network branches in New York City, Washington D.C., San Francisco, and Boston. Amalgamated Bank provides commercial and retail banking products, investment management and trust and custody services, and lending services. Since their founding in 1923, Amalgamated Bank is diligent in fulfilling their mission to be America’s socially responsible bank, empowering organizations and individuals to advance positive change. The businesses that Amalgamated Bank focuses on are generally mission aligned with our core values, including sustainable companies, clean energy, nonprofits, and B Corporations.
www.amalgamatedbank.com
.
About Allectrify, PBC:
C-PACE made simple for lenders and borrowers. Allectrify’s FASTPACE platform enables banks, credit unions, CDFIs and non-bank lenders to offer C-PACE financing quickly and easily, at no cost to the lender and with reduced transaction costs for borrowers. Through Allectrify’s network of FASTPACE lenders, borrowers can access C-PACE financing for projects of all sizes.
https://allectrify.com/
.
Media Contacts
Ayele Ajavon
Head of Communications
Amalgamated Bank
929-979-5811
[email protected]
Lainie Rowland
Allectrify
973-908-9304
[email protected]
