Amerant Bancorp (NYSE:AMTB) Issues Earnings Results, Misses Expectations By $0.02 EPS
by Jessica Moore · The Cerbat GemAmerant Bancorp (NYSE:AMTB – Get Free Report) issued its earnings results on Thursday. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02), FiscalAI reports. The business had revenue of $97.66 million for the quarter, compared to the consensus estimate of $102.56 million. Amerant Bancorp had a return on equity of 7.78% and a net margin of 7.75%.
Amerant Bancorp Trading Up 1.5%
Amerant Bancorp stock traded up $0.36 during midday trading on Thursday, reaching $24.00. The stock had a trading volume of 349,315 shares, compared to its average volume of 277,681. The firm’s fifty day simple moving average is $22.23 and its two-hundred day simple moving average is $20.44. Amerant Bancorp has a twelve month low of $15.62 and a twelve month high of $24.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $965.32 million, a price-to-earnings ratio of 19.20 and a beta of 0.93.
Analyst Ratings Changes
AMTB has been the subject of a number of research reports. Raymond James Financial raised their target price on shares of Amerant Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Amerant Bancorp from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of Amerant Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings restated a “hold (c)” rating on shares of Amerant Bancorp in a report on Friday, March 27th. Finally, Piper Sandler raised their target price on shares of Amerant Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.75.
Check Out Our Latest Research Report on Amerant Bancorp
Insider Buying and Selling
In other news, Director Odilon Almeida acquired 4,816 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average price of $20.99 per share, with a total value of $101,087.84. Following the purchase, the director owned 5,316 shares of the company’s stock, valued at approximately $111,582.84. This trade represents a 963.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.37% of the company’s stock.
Hedge Funds Weigh In On Amerant Bancorp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMTB. AQR Capital Management LLC boosted its stake in Amerant Bancorp by 83.0% in the 1st quarter. AQR Capital Management LLC now owns 22,594 shares of the company’s stock worth $466,000 after purchasing an additional 10,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Amerant Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,989 shares of the company’s stock worth $454,000 after purchasing an additional 963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Amerant Bancorp by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 91,965 shares of the company’s stock worth $1,898,000 after purchasing an additional 5,434 shares during the period. Legal & General Group Plc boosted its stake in Amerant Bancorp by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 35,819 shares of the company’s stock worth $653,000 after purchasing an additional 617 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Amerant Bancorp during the 2nd quarter valued at $275,000. Institutional investors and hedge funds own 42.11% of the company’s stock.
About Amerant Bancorp
Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.
Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.