Mercantil Bank (NASDAQ:AMTB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $17.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.40% from the stock’s current price.

According to Zacks, “Mercantil Bank Holding Corporation is a bank holding company that operates through its wholly-owned subsidiary bank, Amerant Bank N.A., including its investment and trust services subsidiaries, Amerant Investments Inc. and Amerant Trust N.A. It provides deposit, credit and wealth management services to individuals and businesses primarily in the United States. Mercantil Bank Holding Corporation is headquartered in Coral Gables, Florida. “

Other equities analysts have also issued research reports about the company. Stephens assumed coverage on Mercantil Bank in a research note on Monday, January 14th. They set an “equal weight” rating on the stock. Raymond James assumed coverage on Mercantil Bank in a research report on Monday, January 14th. They issued an “outperform” rating and a $17.00 price target on the stock. FIG Partners assumed coverage on Mercantil Bank in a research report on Friday, March 1st. They issued a “market perform” rating and a $17.00 price target on the stock. SunTrust Banks assumed coverage on Mercantil Bank in a research report on Wednesday, January 16th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Keefe, Bruyette & Woods assumed coverage on Mercantil Bank in a research report on Sunday, January 13th. They issued an “outperform” rating and a $19.00 price target on the stock. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.20.

AMTB opened at $14.48 on Tuesday. Mercantil Bank has a 12-month low of $10.65 and a 12-month high of $259.23. The stock has a market cap of $379.69 million and a P/E ratio of 10.65.

Mercantil Bank (NASDAQ:AMTB) last posted its earnings results on Tuesday, January 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.17. The firm had revenue of $68.78 million for the quarter. Analysts forecast that Mercantil Bank will post 1.25 earnings per share for the current year.

In other Mercantil Bank news, major shareholder Servicios Financiero Mercantil sold 2,112,321 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $13.48, for a total value of $28,474,087.08. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hedge funds and other institutional investors have recently modified their holdings of the company. Patriot Financial Partners GP LP acquired a new stake in shares of Mercantil Bank during the 4th quarter worth about $23,418,000. Stilwell Value LLC acquired a new stake in shares of Mercantil Bank during the 4th quarter worth about $10,018,000. Banc Funds Co. LLC acquired a new stake in shares of Mercantil Bank during the 4th quarter worth about $976,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Mercantil Bank during the 4th quarter worth about $7,494,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Mercantil Bank during the 4th quarter worth about $117,000. 14.75% of the stock is currently owned by institutional investors and hedge funds.

Mercantil Bank Company Profile

Mercantil Bank Holding Corporation operates as a bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and deposit, credit, and wealth management services international clients. The company operates through four segments: Personal and Commercial Banking, Corporate LATAM, Treasury, and Institutional.

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