Amerant Bancorp (NASDAQ:AMTB – Get a rating) has been updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Wednesday, Zacks.com reports. The company currently has a price target of $36.00 on the stock. Zacks Investment ResearchThe stock’s target price indicates a potential upside of 15.46% from the stock’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 depository, lending 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 . “
Other stock analysts have also released reports on the company. Raymond James raised his price target on Amerant Bancorp from $34.00 to $38.00 and gave the company an “outperform” rating in a Friday, January 21 report. Truist Financial raised its price target on Amerant Bancorp from $30.00 to $35.00 in a Monday, January 24 report. One investment analyst gave the stock a hold rating and six gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $30.29.
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The NASDAQ AMTB traded at $0.73 on Wednesday, hitting $31.18. 5,810 shares of the stock have been traded, compared to its average volume of 142,437. The stock’s fifty-day simple moving average is $33.09. Amerant Bancorp has a 12-month low of $17.32 and a 12-month high of $36.72. The company has a market capitalization of $1.17 billion, a price-earnings ratio of 10.32 and a beta of 1.10. The company has a debt ratio of 1.12, a current ratio of 1.02 and a quick ratio of 0.99.
Amerant Bancorp (NASDAQ:AMTB – Get a rating) last reported quarterly earnings data on Wednesday, January 19. The company reported earnings per share of $0.52 for the quarter, beating the consensus estimate of $0.39 by $0.13. Amerant Bancorp had a return on equity of 8.78% and a net margin of 30.65%. In the same quarter last year, the company earned $0.27 per share. On average, analysts expect Amerant Bancorp to post earnings per share of 2.08 for the current fiscal year.
In addition, the director Mr. Gustavo Marturet sold 2,189 shares of Amerant Bancorp during a transaction dated Monday, March 14. The stock was sold at an average price of $31.34, for a total value of $68,603.26. The transaction was disclosed in an SEC filing, available at this link. Also, director A. Gustavo J. Vollmer sold 13,404 shares of Amerant Bancorp in a trade dated Friday, February 11. The stock was sold at an average price of $34.50, for a total value of $462,438.00. Disclosure of this sale can be found here. Insiders sold 36,175 shares of the company worth $1,224,598 in the past 90 days. Insiders of the company own 17.15% of the shares of the company.
Several institutional investors and hedge funds have recently increased or reduced their stake in AMTB. Marshall Wace LLP bought a new position in shares of Amerant Bancorp in the first quarter worth about $87,000. Goldman Sachs Group Inc. increased its holdings of Amerant Bancorp shares 9.7% in the second quarter. Goldman Sachs Group Inc. now owns 14,339 shares of the company worth $307,000 after purchasing an additional 1,266 shares during the period. State Street Corp increased its stake in Amerant Bancorp by 8.0% during the second quarter. State Street Corp now owns 433,791 shares of the company valued at $9,274,000 after purchasing an additional 32,016 shares during the period. Credit Suisse AG bought a new position in Amerant Bancorp during Q2, valued at around $271,000. Finally, Morgan Stanley increased its stake in Amerant Bancorp by 669.1% during the second quarter. Morgan Stanley now owns 25,004 shares of the company valued at $534,000 after purchasing an additional 21,753 shares during the period. Hedge funds and other institutional investors hold 31.40% of the company’s shares.
Amerant Bancorp Company Profile (Get a rating)
Amerant Bancorp, Inc. operates as a bank holding company, which provides personal and corporate banking products and services in the United States and abroad. The company offers a range of checking and savings accounts, certificates of deposit and money market accounts. It also offers 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, loan backed by assets, interests in national credit shares, purchased receivables, and small business administration loans, financial institution loans 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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