Amerant Bancorp (NASDAQ: AMTB) named “Strong Buy” at Zacks Investment Research
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 to clients and investors, Zacks.com reports. The company currently has a target price of $ 40.00 on the stock. Zacks Investment Research’s target price suggests a potential rise of 16.35% from the current share price.
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. “
A number of other research companies have also recently published reports on AMTB. Piper Sandler upgraded Amerant Bancorp shares from a “neutral” to an “overweight” rating and raised the target share price from $ 23.00 to $ 30.00 in a research report released on Monday August 30. Stephens upgraded Amerant Bancorp’s shares from a “peer-to-peer” rating to an “overweight” rating in a research report published on Monday, November 8. Raymond James increased his target price on the Amerant Bancorp stock from $ 30.00 to $ 31.00 and rated the stock as “outperforming” in a research report published on Friday, October 22. Finally, TheStreet raised Amerant Bancorp shares from a “c” rating to a “b-” rating in a research report published on Monday, August 30. Two investment analysts gave the stock a conservation rating, five assigned a buy rating and one issued a strong buy rating for the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $ 28.00.
Amerant Bancorp stock traded down $ 0.66 in the midday session Tuesday, reaching $ 34.38. The stock had a trading volume of 5,782 shares, compared to its average volume of 147,576. The company has a fifty-day moving average of $ 28.99. Amerant Bancorp has a twelve month low of $ 13.63 and a twelve month high of $ 36.72. The company has a leverage ratio of 1.15, a quick ratio of 0.95, and a current ratio of 0.99. The company has a market cap of $ 1.29 billion, a price-to-earnings ratio of 23.66 and a beta of 1.05.
Amerant Bancorp (NASDAQ: AMTB) last released its quarterly earnings data on Tuesday, October 19. The company reported EPS of $ 0.45 for the quarter, beating analyst consensus estimates of $ 0.39 by $ 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 in the quarter, compared to $ 61.42 million according to analysts’ estimates. In the same quarter of last year, the company posted EPS of $ 0.08. As a group, research analysts predict Amerant Bancorp will post 1.72 EPS for the current fiscal year.
In other Amerant Bancorp news, Director Millar Wilson sold 30,769 shares of the company in a trade on Wednesday, November 17. The shares were sold for an average price of $ 29.97, for a total value of $ 922,146.93. The transaction was disclosed in a document filed with the SEC, accessible through this link. In addition, Director A. Gustavo J. Vollmer sold 2,630 shares of the company in a trade on Monday, December 13. The stock was sold for an average price of $ 29.93, for a total trade of $ 78,715.90. Disclosure of this sale can be found here. Insiders bought a total of 600 shares of the company valued at $ 16,084 during the last quarter. Insiders own 17.15% of the shares of the company.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMTB. Marshall Wace LLP acquired a new stake in Amerant Bancorp in the 1st quarter valued at $ 87,000. Royal Bank of Canada increased its position in Amerant Bancorp by 9.2% in the 1st quarter. Royal Bank of Canada now owns 10,432 shares of the company valued at $ 194,000 after purchasing 881 additional shares in the last quarter. Russell Investments Group Ltd. increased its position 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. Los Angeles Capital Management LLC strengthened its position in Amerant Bancorp by 97.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 20,075 shares of the company valued at $ 429,000 after purchasing an additional 9,890 shares in the last quarter. Finally, American Century Companies Inc. strengthened its position in Amerant Bancorp by 37.4% in the second quarter. American Century Companies Inc. now owns 41,298 shares of the company valued at $ 883,000 after purchasing an additional 11,233 shares during the last quarter. Institutional investors 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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