Amerant Bancorp (NASDAQ:AMTB) Rating Increased to Buy at Zacks Investment Research

Amerant Bancorp (NASDAQ:AMTBGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $31.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.40% from the company’s previous close.

According to Zacks, “Amerant Bancorp Inc. is a bank holding company. It operates through its subsidiaries, Amerant Bank, N.A., Amerant Investments, Inc. and Amerant Trust, N.A. The Company provides deposit, credit and wealth management services to individuals and businesses primarily in the U.S., as well as select international clients. Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida. “

Several other brokerages also recently weighed in on AMTB. Truist Financial upped their target price on shares of Amerant Bancorp from $30.00 to $35.00 in a research note on Monday, January 24th. Raymond James reduced their price objective on shares of Amerant Bancorp from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Amerant Bancorp currently has a consensus rating of “Buy” and a consensus price target of $29.29.

Shares of AMTB stock traded down $0.32 on Tuesday, hitting $27.58. The stock had a trading volume of 100,456 shares, compared to its average volume of 130,925. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.93 and a beta of 1.08. The business has a 50 day simple moving average of $30.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.02 and a quick ratio of 0.99. Amerant Bancorp has a 52-week low of $17.56 and a 52-week high of $36.72.

Amerant Bancorp (NASDAQ:AMTBGet Rating) last announced its earnings results on Wednesday, April 20th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Amerant Bancorp had a net margin of 30.65% and a return on equity of 9.63%. During the same period in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts expect that Amerant Bancorp will post 2.13 earnings per share for the current year.

In related news, Director A. Gustavo J. Vollmer sold 13,404 shares of the stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $34.50, for a total value of $462,438.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director A. Gustavo J. Vollmer sold 9,206 shares of the stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $34.26, for a total transaction of $315,397.56. The disclosure for this sale can be found here. Insiders have sold 36,175 shares of company stock worth $1,224,598 over the last three months. 17.15% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Amerant Bancorp by 34.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,327,877 shares of the company’s stock valued at $57,592,000 after purchasing an additional 593,417 shares in the last quarter. BlackRock Inc. boosted its position in shares of Amerant Bancorp by 19.0% during the 4th quarter. BlackRock Inc. now owns 1,843,431 shares of the company’s stock valued at $63,691,000 after purchasing an additional 294,173 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Amerant Bancorp in the fourth quarter worth about $8,027,000. State Street Corp boosted its holdings in shares of Amerant Bancorp by 28.4% in the fourth quarter. State Street Corp now owns 490,213 shares of the company’s stock worth $16,966,000 after buying an additional 108,477 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Amerant Bancorp by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 440,659 shares of the company’s stock worth $15,224,000 after buying an additional 74,946 shares during the period. Hedge funds and other institutional investors own 31.40% of the company’s stock.

About Amerant Bancorp (Get Rating)

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. The company offers checking, savings, and money market accounts; and certificates of deposits. It also provides variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals primarily secured by personal residence; working capital loans, asset-based lending, participations in shared national credits, purchased receivables, and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as automobile, personal, or loans secured by cash or securities and revolving credit card agreements.

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