Amerant Bancorp (NYSE:AMTB) Raised to Hold at Zacks Research

Amerant Bancorp (NYSE:AMTB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Amerant Bancorp in a report on Monday, December 29th. Raymond James Financial lifted their target price on Amerant Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Piper Sandler increased their price target on Amerant Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Amerant Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of Amerant Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Amerant Bancorp Price Performance

AMTB opened at $21.53 on Thursday. The firm has a market cap of $866.03 million, a price-to-earnings ratio of 17.22 and a beta of 1.00. Amerant Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $23.55. The company’s 50-day moving average price is $21.71 and its 200 day moving average price is $20.04. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.86.

Amerant Bancorp (NYSE:AMTB) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Amerant Bancorp had a net margin of 7.75% and a return on equity of 7.78%. The business had revenue of $230.71 million during the quarter.

Insider Transactions at Amerant Bancorp

In other Amerant Bancorp news, Director Odilon Almeida purchased 4,816 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $20.99 per share, for a total transaction of $101,087.84. Following the completion of the transaction, the director owned 5,316 shares in the company, valued at $111,582.84. The trade was a 963.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amerant Bancorp

Several hedge funds have recently made changes to their positions in AMTB. Wellington Management Group LLP raised its holdings in shares of Amerant Bancorp by 0.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,732,375 shares of the company’s stock worth $110,463,000 after purchasing an additional 19,426 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Amerant Bancorp by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 2,424,944 shares of the company’s stock worth $47,311,000 after buying an additional 206,874 shares in the last quarter. Patriot Financial Partners GP II L.P. acquired a new position in Amerant Bancorp in the third quarter worth approximately $44,621,000. Dimensional Fund Advisors LP increased its holdings in shares of Amerant Bancorp by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,335,719 shares of the company’s stock valued at $25,740,000 after buying an additional 25,149 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Amerant Bancorp by 9.8% in the fourth quarter. State Street Corp now owns 1,173,568 shares of the company’s stock valued at $22,896,000 after buying an additional 104,578 shares in the last quarter. Institutional investors and hedge funds own 42.11% of the company’s stock.

Amerant Bancorp Company Profile

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.