Amerant Bancorp (NASDAQ:AMTB) Issues Earnings Results, Beats Expectations By $0.04 EPS

Amerant Bancorp (NASDAQ:AMTB) announced its quarterly earnings results on Wednesday. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04, Zacks reports. Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. The company had revenue of ($999.00) million during the quarter, compared to analyst estimates of $99.39 million. During the same quarter last year, the firm posted $0.64 earnings per share.

Amerant Bancorp Price Performance

NASDAQ AMTB traded up $0.22 during trading hours on Friday, reaching $20.88. The company’s stock had a trading volume of 225,920 shares, compared to its average volume of 125,890. The firm’s 50-day moving average price is $20.99 and its 200-day moving average price is $21.79. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 1.25. Amerant Bancorp has a 1 year low of $17.39 and a 1 year high of $27.00. The company has a market capitalization of $698.02 million, a price-to-earnings ratio of 33.74 and a beta of 0.99.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a $0.09 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.72%. Amerant Bancorp’s dividend payout ratio is presently 59.02%.

Analysts Set New Price Targets

Several brokerages have commented on AMTB. Piper Sandler raised their price objective on Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a research report on Friday. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $24.00 to $25.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods reduced their price target on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th. Raymond James reduced their price target on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Amerant Bancorp has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Amerant Bancorp Company Profile

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.