Amerant Bancorp (NASDAQ:AMTB – Get a rating) had its target price lowered by Piper Sandler to $34.00 in a research note released Monday to investors, Target Stock Advisor reports. Piper Sandler’s target price would suggest a potential upside of 20.82% from the current stock price.
Separately, Raymond James cut his price target on Amerant Bancorp from $38.00 to $36.00 and set an “outperform” rating for the company in a Friday, April 22 research note.
Shares of NASDAQ AMTB were up $0.02 in Monday’s midday session, hitting $28.14. The stock had a trading volume of 3,499 shares, compared to an average volume of 125,501. The company’s 50-day simple moving average is $28.10 and its 200-day simple moving average is 31.02 $. The company has a market capitalization of $962.25 million, a P/E ratio of 9.11 and a beta of 1.12. Amerant Bancorp has a fifty-two week low of $20.23 and a fifty-two week high of $36.72. The company has a debt ratio of 1.51, a current ratio of 1.04 and a quick ratio of 1.03.
Amerant Bancorp (NASDAQ:AMTB – Get a rating) last released its quarterly results on Wednesday, April 20. The company reported earnings per share (EPS) of $0.63 for the quarter, beating the consensus estimate of $0.41 by $0.22. The company posted revenue of $69.67 million for the quarter, versus analyst estimates of $70.87 million. Amerant Bancorp had a return on equity of 9.83% and a net margin of 30.67%. During the same period last year, the company achieved EPS of $0.39. Stock analysts expect Amerant Bancorp to post EPS of 2.28 for the current fiscal year.
In other news, Director Frederick C. Copeland, Jr. sold 1,000 shares of Amerant Bancorp in a trade Thursday, May 12. The shares were sold at an average price of $27.60, for a total transaction of $27,600.00. Following the completion of the sale, the director now directly owns 17,523 shares of the company, valued at approximately $483,634.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 14.14% of the shares are held by insiders of the company.
Several hedge funds and other institutional investors have recently changed their positions in AMTB. Lazard Asset Management LLC bought a new position in Amerant Bancorp stock during the first quarter, valued at around $26,000. Addison Advisors LLC purchased a new stake in Amerant Bancorp during the fourth quarter worth approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Amerant Bancorp in the fourth quarter for a value of approximately $49,000. Denali Advisors LLC bought a new position in shares of Amerant Bancorp in the fourth quarter worth about $86,000. Finally, Amalgamated Bank bought a new position in shares of Amerant Bancorp in the first quarter worth approximately $103,000. Institutional investors hold 34.58% of the company’s shares.
About Amerant Bancorp (Get a rating)
Amerant Bancorp Inc operates as a bank holding company for Amerant Bank, NA which provides personal and business banking products and services in the United States and abroad. The company offers checking, savings and money market accounts; and certificates of deposit. It also offers variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals mainly secured by personal residence; working capital loans, asset-based loans, national credit share participations, purchased receivables and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as auto, personal, or secured by cash or securities and revolving credit card contracts.
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