Amerant Bancorp (NASDAQ:AMTB) PT Raised to $29.00

Amerant Bancorp (NASDAQ:AMTB) had its price target lifted by Piper Sandler from $26.50 to $29.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on the stock. Janney Montgomery Scott downgraded shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research note on Friday, July 26th. Raymond James dropped their price target on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reduced their price objective on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Finally, Stephens raised Amerant Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $25.00 in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Amerant Bancorp presently has an average rating of “Moderate Buy” and an average price target of $25.60.

Amerant Bancorp Trading Up 1.1 %

NASDAQ:AMTB opened at $20.88 on Friday. The stock has a fifty day simple moving average of $20.99 and a 200 day simple moving average of $21.77. The firm has a market capitalization of $703.99 million, a price-to-earnings ratio of 30.71 and a beta of 0.99. Amerant Bancorp has a 1-year low of $17.39 and a 1-year high of $27.00. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 1.25.

Amerant Bancorp (NASDAQ:AMTB) last announced its earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. The company had revenue of ($999.00) million during the quarter, compared to analysts’ expectations of $99.39 million. During the same period last year, the company posted $0.64 earnings per share. Sell-side analysts forecast that Amerant Bancorp will post 1.15 earnings per share for the current year.

Amerant Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.72%. Amerant Bancorp’s dividend payout ratio is 52.94%.

Institutional Investors Weigh In On Amerant Bancorp

Several institutional investors have recently made changes to their positions in AMTB. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Amerant Bancorp by 30.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock valued at $117,000 after acquiring an additional 1,197 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Amerant Bancorp during the 2nd quarter worth $199,000. Renaissance Technologies LLC bought a new position in shares of Amerant Bancorp during the 2nd quarter valued at $250,000. Creative Planning lifted its stake in shares of Amerant Bancorp by 7.6% in the 3rd quarter. Creative Planning now owns 11,974 shares of the company’s stock valued at $256,000 after purchasing an additional 850 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Amerant Bancorp by 23.9% in the 2nd 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 last quarter. 42.11% of the stock is currently owned by institutional investors and hedge funds.

About Amerant Bancorp

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.