Amerant Bancorp (NASDAQ: AMTB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong buy” rating in a research report released Tuesday, Zacks.com reports. The company currently has a target price of $ 40.00 per share. Zacks Investment Research’s target price indicates a potential rise of 16.14% from the share’s previous close.
According to Zacks, “Amerant Bancorp Inc. is a bank holding company. It operates through its subsidiaries, Amerant Bank, NA, Amerant Investments, Inc. and Amerant Trust, NA. The company provides deposit, credit and wealth management services to individuals and businesses. mainly in the United States, as well as selected international customers. Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida. “
The AMTB has been the subject of several other research reports. Stephens downgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating in a research report published on Monday, November 8. Raymond James increased his target price on Amerant Bancorp from $ 30.00 to $ 31.00 and rated the stock as “outperforming” in a research note on Friday, October 22. Two equity research analysts rated the stock with a hold rating, five gave a buy rating, and one gave the stock a strong buy rating. 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 Tuesday’s noon session, 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 leverage 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 company’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 released its results on Tuesday, October 19. The company reported earnings per share of $ 0.45 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.39 of $ 0.06. Amerant Bancorp had a net margin of 18.58% and a return on equity of 7.88%. The company posted revenue of $ 65.26 million for the quarter, compared to a consensus estimate of $ 61.42 million. In the same quarter of the previous year, the company made a profit of $ 0.08 per share. As a group, sell-side analysts expect Amerant Bancorp to post 1.72 EPS for the current year.
In addition, director A. Gustavo J. Vollmer sold 2,630 shares of the company in a transaction that took place on Monday, December 13. The stock was sold for an average price of $ 29.93, for a total value of $ 78,715.90. The transaction was disclosed in a file with the Securities & Exchange Commission, accessible through this link. Additionally, director Millar Wilson sold 30,769 shares of the company in a trade that took place on Wednesday, November 17. The shares were sold for an average price of $ 29.97, for a total value of $ 922,146.93. Disclosure of this sale can be found here. Company insiders own 17.15% of the company’s shares.
Hedge funds recently bought and sold shares in the company. Citigroup Inc. increased its holdings of Amerant Bancorp shares by 93.1% in the third quarter. Citigroup Inc. now owns 2,699 shares of the company valued at $ 67,000 after purchasing an additional 1,301 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Amerant Bancorp by 208.1% in the second quarter. Russell Investments Group Ltd. now owns 3,940 shares of the company valued at $ 83,000 after purchasing an additional 2,661 shares in the last quarter. Marshall Wace LLP purchased a new position in Amerant Bancorp shares during the first quarter valued at approximately $ 87,000. BNP Paribas Arbitrage SA increased its position in Amerant Bancorp shares by 108.2% during the third quarter. BNP Paribas Arbitrage SA now owns 5,815 shares of the company valued at $ 144,000 after purchasing an additional 3,022 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in Amerant Bancorp shares by 99,837.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,995 shares of the company valued at $ 171,000 after purchasing an additional 7,987 shares in the last quarter. Institutional investors and hedge funds hold 29.17% of the company’s shares.
Amerant Bancorp Company Profile
Amerant Bancorp, Inc. operates as a banking holding company, which provides banking products and services to individuals and businesses in the United States and around the world. The company 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 guaranteed by owner occupied properties, domestic and foreign personal loans mainly secured by personal residence, working capital loans, loans on assets, stakes in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as auto loans, loans personal or loans secured by cash or securities and revolving credit card agreements.
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