Amerant Bancorp (NASDAQ:AMTB) Upgraded by Piper Sandler to Overweight

Piper Sandler upgraded shares of Amerant Bancorp (NASDAQ:AMTB) from a neutral rating to an overweight rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has $26.50 price objective on the stock, up from their previous price objective of $26.00.

A number of other brokerages have also recently weighed in on AMTB. Janney Montgomery Scott cut shares of Amerant Bancorp from a buy rating to a neutral rating and set a $25.00 price objective for the company. in a report on Friday, July 26th. Keefe, Bruyette & Woods reduced their price target on shares of Amerant Bancorp from $26.00 to $24.00 and set a market perform rating for the company in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $25.50.

Amerant Bancorp Stock Up 4.2 %

NASDAQ:AMTB opened at $21.37 on Monday. The firm has a market capitalization of $720.51 million, a P/E ratio of 31.46 and a beta of 1.00. Amerant Bancorp has a 1-year low of $16.63 and a 1-year high of $27.00. The company’s fifty day moving average price is $21.40 and its 200-day moving average price is $22.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.97 and a quick ratio of 0.89.

Amerant Bancorp (NASDAQ:AMTB) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.07). The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, equities research analysts anticipate that Amerant Bancorp will post 1.33 EPS for the current year.

Amerant Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, August 15th. Amerant Bancorp’s dividend payout ratio (DPR) is presently 52.94%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMTB. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amerant Bancorp by 30.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after purchasing an additional 1,197 shares in the last quarter. SG Americas Securities LLC bought a new position in Amerant Bancorp in the 2nd quarter worth approximately $199,000. Renaissance Technologies LLC bought a new position in Amerant Bancorp in the 2nd quarter worth approximately $250,000. The Manufacturers Life Insurance Company increased its position in shares of Amerant Bancorp by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock valued at $272,000 after purchasing an additional 2,316 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Amerant Bancorp during the second quarter valued at approximately $281,000. 42.11% of the stock is owned by institutional investors and hedge funds.

Amerant Bancorp Company Profile

Amerant Bancorp Inc operates as the bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. It offers checking, savings, business, and money market accounts; cash management services; and certificates of deposits.