Stephens Upgrades Amerant Bancorp (NASDAQ:AMTB) to Overweight

Stephens upgraded shares of Amerant Bancorp (NASDAQ:AMTB) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $25.00 target price on the stock, up from their previous target price of $24.00.

Other equities research analysts have also issued research reports about the stock. Janney Montgomery Scott lowered shares of Amerant Bancorp from a buy rating to a neutral rating and set a $25.00 price objective for the company. in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut their target price on shares of Amerant Bancorp from $26.00 to $24.00 and set a market perform rating on the stock in a report on Monday, July 29th. Finally, Piper Sandler raised shares of Amerant Bancorp from a neutral rating to an overweight rating and lifted their price objective for the company from $26.00 to $26.50 in a research report on Monday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $25.10.

Amerant Bancorp Trading Down 0.4 %

Shares of AMTB opened at $20.18 on Monday. The stock has a fifty day moving average of $20.97 and a two-hundred day moving average of $22.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market capitalization of $680.39 million, a PE ratio of 29.68 and a beta of 0.99. Amerant Bancorp has a fifty-two week low of $16.63 and a fifty-two week high of $27.00.

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

Amerant Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, August 15th. Amerant Bancorp’s dividend payout ratio (DPR) is currently 52.94%.

Hedge Funds Weigh In On Amerant Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of AMTB. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Amerant Bancorp by 30.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock valued at $117,000 after acquiring an additional 1,197 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Amerant Bancorp by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock worth $272,000 after purchasing an additional 2,316 shares during the period. Charles Schwab Investment Management Inc. raised its position in Amerant Bancorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 207,699 shares of the company’s stock valued at $5,103,000 after acquiring an additional 2,649 shares in the last quarter. Rhumbline Advisers increased its position in shares of Amerant Bancorp by 10.9% in the second quarter. Rhumbline Advisers now owns 46,973 shares of the company’s stock valued at $1,066,000 after buying an additional 4,622 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Amerant Bancorp by 89.8% in the first quarter. BNP Paribas Financial Markets now owns 13,234 shares of the company’s stock valued at $308,000 after buying an additional 6,261 shares in the last quarter. Institutional investors own 42.11% of the company’s stock.

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.