Amerant Bancorp (NASDAQ:AMTB – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Tuesday to clients and investors, Zacks.com reports. The brokerage currently has a price target of $31.00 on the stock. Zacks Investment Research’s target price would indicate a potential upside of 12.40% from the company’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 primarily in the United States, as well as some international clients. Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida. “
Several other brokerages have also recently weighed in on AMTB. Truist Financial raised its target price on shares of Amerant Bancorp from $30.00 to $35.00 in a Monday, January 24 research note. Raymond James cut his price target on Amerant Bancorp shares from $38.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday. One equity research analyst gave the stock a hold rating and six gave the stock a buy rating. Based on MarketBeat data, Amerant Bancorp currently has a consensus rating of “Buy” and a consensus price target of $29.29.
AMTB shares traded down $0.32 on Tuesday, hitting $27.58. The stock had a trading volume of 100,456 shares, compared to an average volume of 130,925. The stock has a market capitalization of $1.03 billion, a price-earnings ratio of 8.93 and a beta of 1.08. The company has a 50-day simple moving average of $30.96. The company has a debt ratio of 1.12, a current ratio of 1.02 and a quick ratio of 0.99. Amerant Bancorp has a 52-week low of $17.56 and a 52-week high of $36.72.
Amerant Bancorp (NASDAQ:AMTB – Get Rating) last announced its results on Wednesday, April 20. The company reported earnings per share of $0.45 for the quarter, beating the consensus estimate of $0.42 by $0.03. Amerant Bancorp had a net margin of 30.65% and a return on equity of 9.63%. In the same period a year earlier, the company earned earnings per share of $0.39. Sell-side analysts expect Amerant Bancorp to post earnings per share of 2.13 for the current year.
Separately, director A. Gustavo J. Vollmer sold 13,404 shares in a trade dated Friday, February 11. The shares were sold at an average price of $34.50, for a total value of $462,438.00. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, director A. Gustavo J. Vollmer sold 9,206 shares in a trade dated Wednesday, February 9. The stock was sold at an average price of $34.26, for a total transaction of $315,397.56. The disclosure of this sale can be found here. Insiders sold 36,175 shares of the company worth $1,224,598 in the past three months. 17.15% of the shares are held by insiders.
A number of institutional investors and hedge funds have recently changed their positions in the stock. Wellington Management Group LLP increased its position in Amerant Bancorp shares by 34.2% during the third quarter. Wellington Management Group LLP now owns 2,327,877 shares of the company valued at $57,592,000 after purchasing an additional 593,417 shares last quarter. BlackRock Inc. increased its position in Amerant Bancorp shares by 19.0% during the fourth quarter. BlackRock Inc. now owns 1,843,431 shares of the company valued at $63,691,000 after purchasing an additional 294,173 shares last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Amerant Bancorp in the fourth quarter worth approximately $8,027,000. State Street Corp increased its holdings of Amerant Bancorp shares 28.4% in the fourth quarter. State Street Corp now owns 490,213 shares of the company worth $16,966,000 after purchasing an additional 108,477 shares during the period. Finally, Geode Capital Management LLC increased its stake in Amerant Bancorp shares by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 440,659 shares of the company worth $15,224,000 after purchasing an additional 74,946 shares during the period. Hedge funds and other institutional investors own 31.40% of the company’s shares.
About Amerant Bancorp (Get an assessment)
Amerant Bancorp Inc operates as a bank holding company for Amerant Bank, NA which provides personal and business banking products and services in the United States and abroad. The company offers checking, savings and money market accounts; and certificates of deposit. It also offers variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals mainly secured by personal residence; working capital loans, asset-based loans, national credit share participations, purchased receivables and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as auto, personal, or secured by cash or securities and revolving credit card contracts.
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