Amerant Bancorp (NYSE:AMTB) Upgraded at Zacks Research

Zacks Research upgraded shares of Amerant Bancorp (NYSE:AMTB) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on AMTB. Wall Street Zen raised shares of Amerant Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings downgraded shares of Amerant Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.67.

Amerant Bancorp Stock Up 10.0%

AMTB stock opened at $28.43 on Wednesday. The stock has a 50-day simple moving average of $24.20 and a two-hundred day simple moving average of $22.83. Amerant Bancorp has a twelve month low of $15.62 and a twelve month high of $28.63. The firm has a market capitalization of $1.12 billion, a PE ratio of 20.45 and a beta of 0.88. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

Amerant Bancorp (NYSE:AMTB) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Amerant Bancorp had a net margin of 8.83% and a return on equity of 8.26%. The firm had revenue of $98.81 million for the quarter, compared to the consensus estimate of $98.64 million. On average, equities analysts predict that Amerant Bancorp will post 1.79 EPS for the current fiscal year.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 14th. Amerant Bancorp’s dividend payout ratio (DPR) is 25.53%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMTB. Patriot Financial Partners GP II L.P. bought a new stake in Amerant Bancorp during the third quarter valued at approximately $44,621,000. North Reef Capital Management LP bought a new position in shares of Amerant Bancorp in the 1st quarter worth $25,577,000. Millennium Management LLC increased its holdings in shares of Amerant Bancorp by 756.2% in the 3rd quarter. Millennium Management LLC now owns 437,847 shares of the company’s stock worth $8,437,000 after buying an additional 386,710 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Amerant Bancorp in the 4th quarter worth $4,153,000. Finally, Vanguard Group Inc. raised its position in shares of Amerant Bancorp by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 2,424,944 shares of the company’s stock valued at $47,311,000 after buying an additional 206,874 shares in the last quarter. 42.11% of the stock is currently owned by institutional investors.

More Amerant Bancorp News

Here are the key news stories impacting Amerant Bancorp this week:

• Positive Sentiment: Zacks Research upgraded Amerant Bancorp from hold to strong-buy, which can support sentiment by signaling improving analyst confidence in the stock. Zacks.com
• Positive Sentiment: The company reported Q2 earnings of $0.53 per share, beating Wall Street expectations and topping the consensus estimate of $0.41; revenue also came in slightly ahead of forecasts at $98.81 million. Amerant Bancorp Inc. (AMTB) Tops Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Amerant Bancorp also declared a quarterly dividend of $0.09 per share, reinforcing its shareholder-return profile, though the payout is modest and unlikely to be the main stock driver. Dividend announcement
• Neutral Sentiment: Additional coverage noted that investors were focusing on key operating metrics from the earnings release, but the main takeaway remains the earnings beat. Amerant Bancorp (AMTB) Reports Q2 Earnings: What Key Metrics Have to Say

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.