Wall Street Zen Upgrades Amerant Bancorp (NYSE:AMTB) to “Buy”

Amerant Bancorp (NYSE:AMTB) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

AMTB has been the subject of a number of other research reports. Piper Sandler restated an “overweight” rating and set a $35.00 price objective (up from $33.50) on shares of Amerant Bancorp in a report on Monday, October 26th. Zacks Research lowered Amerant Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 24th. Stephens downgraded Amerant Bancorp from an “overweight” rating to an “equal weight” rating and set a $32.00 target price for the company. in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Amerant Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Amerant Bancorp in a report on Monday, November 2nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Amerant Bancorp has an average rating of “Moderate Buy” and an average target price of $30.25.

Amerant Bancorp Stock Down 0.2%

Shares of NYSE AMTB opened at $29.54 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $1.16 billion, a P/E ratio of 17.48 and a beta of 0.80. Amerant Bancorp has a 1 year low of $16.70 and a 1 year high of $31.00. The firm has a 50-day simple moving average of $29.32 and a two-hundred day simple moving average of $25.34.

Amerant Bancorp (NYSE:AMTB) last released its earnings results on Thursday, October 22nd. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Amerant Bancorp had a return on equity of 9.57% and a net margin of 10.63%. The firm had revenue of $108.80 million for the quarter, compared to analysts’ expectations of $103.35 million. Research analysts anticipate that Amerant Bancorp will post 2.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMTB. Principal Financial Group Inc. bought a new stake in shares of Amerant Bancorp in the first quarter valued at about $1,214,000. North Reef Capital Management LP purchased a new stake in Amerant Bancorp in the first quarter worth about $25,577,000. Sei Investments Co. grew its holdings in Amerant Bancorp by 25.2% during the 1st quarter. Sei Investments Co. now owns 198,326 shares of the company’s stock worth $4,371,000 after acquiring an additional 39,971 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Amerant Bancorp by 45.3% during the 1st quarter. Quantinno Capital Management LP now owns 55,210 shares of the company’s stock worth $1,217,000 after acquiring an additional 17,201 shares in the last quarter. Finally, 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 valued at $30,611,000 after purchasing an additional 133,050 shares during the period. 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.