Amerant Bancorp (NASDAQ:AMTB) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $40.00 target price on the stock. Zacks Investment Research's target price points to a potential upside of 16.14% from the stock's previous close.
According to Zacks, "Amerant Bancorp Inc. is a bank holding company. It operates through its subsidiaries, Amerant Bank, N.A., Amerant Investments, Inc. and Amerant Trust, N.A. The Company provides deposit, credit and wealth management services to individuals and businesses primarily in the U.S., as well as select international clients. Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida. "
AMTB has been the topic of several other research reports. Stephens upgraded Amerant Bancorp from an "equal weight" rating to an "overweight" rating in a research report on Monday, November 8th. Raymond James increased their target price on Amerant Bancorp from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Friday, October 22nd. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $28.00.
NASDAQ:AMTB traded down $0.12 during midday trading on Tuesday, reaching $34.44. The stock had a trading volume of 66,209 shares, compared to its average volume of 78,154. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.29 billion, a PE ratio of 23.75 and a beta of 1.10. The business's fifty day simple moving average is $30.79. Amerant Bancorp has a 12-month low of $13.63 and a 12-month high of $36.72.
Amerant Bancorp (NASDAQ:AMTB) last issued its earnings results on Tuesday, October 19th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.39 by $0.06. Amerant Bancorp had a net margin of 18.58% and a return on equity of 7.88%. The business had revenue of $65.26 million for the quarter, compared to the consensus estimate of $61.42 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, sell-side analysts expect that Amerant Bancorp will post 1.72 EPS for the current year.
In related news, Director A. Gustavo J. Vollmer sold 2,630 shares of the firm's stock in a transaction that occurred on Monday, December 13th. The stock was sold at an average price of $29.93, for a total value of $78,715.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Millar Wilson sold 30,769 shares of the firm's stock in a transaction that occurred on Wednesday, November 17th. The shares were sold at an average price of $29.97, for a total value of $922,146.93. The disclosure for this sale can be found here. Company insiders own 17.15% of the company's stock.
Hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its holdings in shares of Amerant Bancorp by 93.1% during the third quarter. Citigroup Inc. now owns 2,699 shares of the company's stock worth $67,000 after purchasing an additional 1,301 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Amerant Bancorp by 208.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,940 shares of the company's stock worth $83,000 after purchasing an additional 2,661 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Amerant Bancorp during the 1st quarter valued at approximately $87,000. BNP Paribas Arbitrage SA grew its position in shares of Amerant Bancorp by 108.2% during the third quarter. BNP Paribas Arbitrage SA now owns 5,815 shares of the company's stock worth $144,000 after buying an additional 3,022 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in shares of Amerant Bancorp by 99,837.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,995 shares of the company's stock worth $171,000 after buying an additional 7,987 shares in the last quarter. Institutional investors and hedge funds own 29.17% of the company's stock.
Amerant Bancorp Company Profile
Amerant Bancorp, Inc operates as the bank holding company, which provides banking products and services to individuals and businesses in the United States and internationally. The firm offers a range of checking and savings accounts, certificates of deposit, and money market accounts. It also provides variable and fixed rate commercial real estate loans, loans secured by owner-occupied properties, loans to domestic and foreign individuals primarily secured by personal residence, working capital loans, asset-based lending, participations in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as automobile loans, personal loans, or loans secured by cash or securities and revolving credit card agreements.
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