Mercantil Bank Holding Corp (AMTB) Given Average Rating of “Hold” by Analysts
Mercantil Bank Holding Corp (NASDAQ:AMTB) has received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.00.
Several analysts have issued reports on AMTB shares. SunTrust Banks started coverage on shares of Mercantil Bank in a research note on Wednesday, January 16th. They issued a “buy” rating and a $16.00 price objective for the company. FIG Partners assumed coverage on shares of Mercantil Bank in a research note on Friday, March 1st. They set a “market perform” rating and a $17.00 price target for the company. Zacks Investment Research raised shares of Mercantil Bank from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Tuesday, March 19th. ValuEngine downgraded shares of Mercantil Bank from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Raymond James lifted their price target on shares of Mercantil Bank from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, April 29th.
NASDAQ AMTB traded down $0.29 during trading on Wednesday, hitting $17.59. The stock had a trading volume of 30,600 shares, compared to its average volume of 30,849. The company has a market cap of $773.28 million and a P/E ratio of 13.16. Mercantil Bank has a one year low of $10.65 and a one year high of $259.23.
In other news, major shareholder Servicios Financiero Mercantil sold 2,112,321 shares of Mercantil Bank stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $13.48, for a total transaction of $28,474,087.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in Mercantil Bank in the first quarter worth approximately $51,000. Marshall Wace LLP bought a new position in Mercantil Bank in the first quarter worth approximately $87,000. Victory Capital Management Inc. bought a new position in Mercantil Bank in the fourth quarter worth approximately $117,000. Acadian Asset Management LLC bought a new position in Mercantil Bank in the first quarter worth approximately $145,000. Finally, Citigroup Inc. bought a new position in Mercantil Bank in the first quarter worth approximately $155,000. 9.41% of the stock is owned by hedge funds and other institutional investors.
About Mercantil Bank
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 internationally. The company operates through four segments: Personal and Commercial Banking, Corporate LATAM, Treasury, and Institutional.
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