Piper Sandler Upgrades Amerant Bancorp (NASDAQ:AMTB) to “Overweight”

Amerant Bancorp (NASDAQ:AMTB) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The brokerage presently has a $26.50 price objective on the stock, up from their previous price objective of $26.00. Piper Sandler’s target price would suggest a potential upside of 30.54% from the stock’s current price.

Several other equities analysts also recently weighed in on AMTB. Janney Montgomery Scott downgraded Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Friday, July 26th. Keefe, Bruyette & Woods dropped their price objective on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.50.

Amerant Bancorp Price Performance

Shares of NASDAQ:AMTB opened at $20.30 on Monday. Amerant Bancorp has a 1-year low of $16.63 and a 1-year high of $27.00. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.97 and a quick ratio of 0.89. The business has a fifty day moving average price of $21.30 and a 200-day moving average price of $22.04. The company has a market capitalization of $684.43 million, a PE ratio of 31.43 and a beta of 1.00.

Amerant Bancorp (NASDAQ:AMTB) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.07). Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. The company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $93.19 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. As a group, equities analysts expect that Amerant Bancorp will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Amerant Bancorp

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in Amerant Bancorp by 9.4% in the fourth quarter. Wellington Management Group LLP now owns 3,113,483 shares of the company’s stock worth $76,498,000 after purchasing an additional 267,466 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Amerant Bancorp by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company’s stock valued at $19,621,000 after buying an additional 72,028 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Amerant Bancorp by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,190 shares of the company’s stock valued at $3,546,000 after buying an additional 21,318 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Amerant Bancorp during the 2nd quarter valued at about $281,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Amerant Bancorp during the 2nd quarter valued at about $250,000. 42.11% of the stock is owned by hedge funds and other institutional investors.

About Amerant Bancorp

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.