Amerant Bancorp Inc. (NYSE:AMTB) Stock Has Average Target Price of $27.75

Shares of Amerant Bancorp Inc. (NYSE:AMTB) have received an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.25.

Several research firms recently weighed in on AMTB. Stephens downgraded Amerant Bancorp from an “overweight” rating to an “equal weight” rating and set a $32.00 price objective for the company. in a research note on Wednesday, August 12th. Weiss Ratings raised Amerant Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Piper Sandler restated an “overweight” rating and issued a $35.00 price target (up from $33.50) on shares of Amerant Bancorp in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Amerant Bancorp from $26.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Zacks Research cut shares of Amerant Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 24th.

Amerant Bancorp Stock Up 0.8%

AMTB opened at $29.88 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of 17.68 and a beta of 0.82. Amerant Bancorp has a 12 month low of $16.53 and a 12 month high of $30.85. The business has a 50 day simple moving average of $29.18 and a 200-day simple moving average of $25.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.84.

Amerant Bancorp (NYSE:AMTB) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. Amerant Bancorp had a net margin of 10.63% and a return on equity of 9.36%. The business had revenue of $90.46 million for the quarter, compared to analysts’ expectations of $103.35 million. On average, equities analysts anticipate that Amerant Bancorp will post 2.24 earnings per share for the current fiscal year.

Amerant Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 13th. Amerant Bancorp’s payout ratio is currently 21.30%.

Hedge Funds Weigh In On Amerant Bancorp

Several hedge funds have recently bought and sold shares of AMTB. Dimensional Fund Advisors LP increased its position in Amerant Bancorp by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,388,926 shares of the company’s stock worth $30,611,000 after purchasing an additional 133,050 shares in the last quarter. North Reef Capital Management LP purchased a new position in Amerant Bancorp in the 1st quarter valued at about $25,577,000. Sei Investments Co. lifted its holdings in Amerant Bancorp by 25.2% in the 1st quarter. Sei Investments Co. now owns 198,326 shares of the company’s stock valued at $4,371,000 after purchasing an additional 39,971 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Amerant Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 164,730 shares of the company’s stock worth $3,631,000 after purchasing an additional 5,492 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Amerant Bancorp by 12.6% during the 1st quarter. Bank of New York Mellon Corp now owns 146,319 shares of the company’s stock worth $3,225,000 after purchasing an additional 16,343 shares during the last quarter. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Company Profile

Amerant Bancorp is the bank holding company for Amerant Bank, a regional financial institution headquartered in Coral Gables, Florida. Through its banking subsidiary, the company provides financial products and services to consumers, businesses and institutions, with a primary focus on markets in Florida and Texas.

Amerant Bank offers deposit accounts, consumer and commercial loans, residential mortgages, home equity products, credit cards and treasury management services. It also provides wealth management and investment services, along with digital banking tools that allow customers to manage accounts, transfer funds and make payments online and through mobile devices.

The company traces its origins to 1970, when it was established as Commercebank.