Mercantil Bank (AMTB) Given “Hold” Rating at Stephens
Mercantil Bank (NASDAQ:AMTB)‘s stock had its “hold” rating reaffirmed by investment analysts at Stephens in a report released on Monday, AnalystRatings.com reports. They currently have a $16.00 price objective on the stock. Stephens’ target price points to a potential downside of 9.35% from the company’s current price.
The analysts wrote, “We thought results were mixed as the Company appears ahead of schedule on its international and SNC loan runoff, the NIM expanded 1 bps q/q and beat our estimate, workforce reductions aided the expense base, and credit quality remained stable; however, fee income headwinds will remain due to restrictions on Venezuelan trading securities & the exit of its international credit card program were disclosed in the 10-Q, along with likely provisioning headwinds. Ultimately, we look for profitability to improve modestly from here, with ROA reaching 0.76% in 2020, but remain on the side-lines with an Equal-Weight rating. We are increasing our price target to $17.50 (was $16.00).””
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Mercantil Bank from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday. SunTrust Banks set a $18.00 price target on shares of Mercantil Bank and gave the company a “buy” rating in a research report on Monday, April 8th. ValuEngine raised shares of Mercantil Bank from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. FIG Partners initiated coverage on shares of Mercantil Bank in a research report on Friday, March 1st. They set a “market perform” rating and a $17.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut shares of Mercantil Bank from an “outperform” rating to a “market perform” rating and set a $19.00 price target on the stock. in a research report on Sunday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.00.
Mercantil Bank (NASDAQ:AMTB) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $68.59 million for the quarter, compared to analysts’ expectations of $67.18 million. Research analysts predict that Mercantil Bank will post 1.29 earnings per share for the current fiscal year.
In other news, major shareholder Servicios Financiero Mercantil sold 2,112,321 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $13.48, for a total transaction of $28,474,087.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in Mercantil Bank in the first quarter valued at $51,000. Morgan Stanley acquired a new stake in Mercantil Bank in the first quarter valued at $60,000. Marshall Wace LLP acquired a new stake in Mercantil Bank in the first quarter valued at $87,000. Victory Capital Management Inc. acquired a new stake in Mercantil Bank in the fourth quarter valued at $117,000. Finally, Acadian Asset Management LLC acquired a new stake in Mercantil Bank in the first quarter valued at $145,000. 9.41% of the stock is currently owned by hedge funds and other institutional investors.
About Mercantil Bank
Mercantil Bank Holding Corporation operates as a bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. The company operates through four segments: Personal and Commercial Banking, Corporate LATAM, Treasury, and Institutional.
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