Amerant Bancorp (NASDAQ:AMTB) Upgraded to Overweight by Stephens

by · The Markets Daily

Stephens upgraded shares of Amerant Bancorp (NASDAQ:AMTB – Free Report) from an equal weight rating to an overweight rating in a research note published on Monday, MarketBeat.com reports. They currently have $25.00 price target on the stock, up from their previous price target of $24.00.

Several other research analysts also recently commented on the company. Piper Sandler upgraded Amerant Bancorp from a neutral rating to an overweight rating and raised their price objective for the stock from $26.00 to $26.50 in a report on Monday. Janney Montgomery Scott lowered Amerant Bancorp from a buy rating to a neutral rating and set a $25.00 price target on the stock. in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Amerant Bancorp from $26.00 to $24.00 and set a market perform rating for the company in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Amerant Bancorp currently has a consensus rating of Moderate Buy and an average target price of $25.10.

Read Our Latest Stock Analysis on Amerant Bancorp

Amerant Bancorp Stock Performance

AMTB stock opened at $20.26 on Monday. The firm has a market cap of $683.09 million, a price-to-earnings ratio of 29.47 and a beta of 0.99. Amerant Bancorp has a twelve month low of $16.63 and a twelve month high of $27.00. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 1.25. The business’s fifty day simple moving average is $21.17 and its two-hundred day simple moving average is $22.03.

Amerant Bancorp (NASDAQ:AMTB – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.07). The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same period last year, the firm earned $0.24 earnings per share. Analysts predict that Amerant Bancorp will post 1.33 earnings per share for the current year.

Amerant Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.78%. Amerant Bancorp’s dividend payout ratio is presently 52.94%.

Institutional Investors Weigh In On Amerant Bancorp

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in Amerant Bancorp by 23.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock valued at $272,000 after purchasing an additional 2,316 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Amerant Bancorp in the 2nd quarter worth approximately $281,000. Renaissance Technologies LLC bought a new position in shares of Amerant Bancorp during the 2nd quarter worth approximately $250,000. Dimensional Fund Advisors LP lifted its position in Amerant Bancorp by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company’s stock valued at $19,621,000 after acquiring an additional 72,028 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Amerant Bancorp by 10.9% in the second quarter. Rhumbline Advisers now owns 46,973 shares of the company’s stock valued at $1,066,000 after acquiring an additional 4,622 shares in the last quarter. 42.11% of the stock is currently owned by hedge funds and other institutional investors.

Amerant Bancorp Company Profile

(Get Free Report)

Amerant Bancorp Inc operates as the bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. It offers checking, savings, business, and money market accounts; cash management services; and certificates of deposits.

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