Amerant Bancorp (NYSE:AMTB) Releases Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Amerant Bancorp beat earnings expectations: The company reported quarterly EPS of $0.65, exceeding the $0.57 consensus estimate by $0.08. Revenue of $90.46 million fell short of analysts’ $103.35 million forecast.
• Shares moved higher following the results, rising $0.57 to $29.70. Amerant’s stock is near its 52-week high of $30.60 and has a market capitalization of approximately $1.16 billion.
• Analyst sentiment remains moderately positive: Three analysts rate the stock Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of $27.75.

Amerant Bancorp (NYSE:AMTB - Get Free Report) released its earnings results on Thursday. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.08, FiscalAI reports. The company had revenue of $90.46 million for the quarter, compared to analysts' expectations of $103.35 million. Amerant Bancorp had a net margin of 8.76% and a return on equity of 8.30%.

Amerant Bancorp Price Performance

AMTB traded up $0.57 during trading on Thursday, hitting $29.70. 434,827 shares of the company traded hands, compared to its average volume of 314,158. The company has a market cap of $1.16 billion, a PE ratio of 21.37 and a beta of 0.82. The stock's 50-day simple moving average is $29.10 and its two-hundred day simple moving average is $26.22. Amerant Bancorp has a 1 year low of $15.62 and a 1 year high of $30.60. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.87.

Wall Street Analyst Weigh In

AMTB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on Amerant Bancorp from $26.00 to $31.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Zacks Research lowered Amerant Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 24th. Weiss Ratings raised Amerant Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Stephens cut Amerant Bancorp from an "overweight" rating to an "equal weight" rating and set a $32.00 target price for the company. in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.75.

About Amerant Bancorp

Amerant Bancorp is the bank holding company for Amerant Bank, a regional financial institution headquartered in Coral Gables, Florida. Through its banking subsidiary, the company provides financial products and services to consumers, businesses and institutions, with a primary focus on markets in Florida and Texas.

Amerant Bank offers deposit accounts, consumer and commercial loans, residential mortgages, home equity products, credit cards and treasury management services. It also provides wealth management and investment services, along with digital banking tools that allow customers to manage accounts, transfer funds and make payments online and through mobile devices.

The company traces its origins to 1970, when it was established as Commercebank.

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