Amerant Bancorp (NASDAQ:AMTB) Raised to “Overweight” at Piper Sandler

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

Several other research firms also recently commented on AMTB. Keefe, Bruyette & Woods decreased their price objective on shares of Amerant Bancorp from $26.00 to $24.00 and set a market perform rating on the stock in a report on Monday, July 29th. Janney Montgomery Scott cut shares of Amerant Bancorp from a buy rating to a neutral rating and set a $25.00 price target on the stock. in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $25.10.

Amerant Bancorp Stock Down 0.1 %

Shares of AMTB stock opened at $20.26 on Monday. Amerant Bancorp has a 52-week low of $16.63 and a 52-week high of $27.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market cap of $683.09 million, a price-to-earnings ratio of 29.47 and a beta of 0.99. The firm’s 50-day moving average is $21.17 and its 200-day moving average is $22.03.

Amerant Bancorp (NASDAQ:AMTB) last posted its earnings results on Wednesday, July 24th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. The business had revenue of $98.78 million for the quarter, compared to analyst estimates of $93.19 million. During the same period in the previous year, the firm posted $0.24 earnings per share. Sell-side analysts predict that Amerant Bancorp will post 1.33 EPS for the current year.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.09 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.78%. Amerant Bancorp’s dividend payout ratio (DPR) is presently 52.94%.

Institutional Trading of Amerant Bancorp

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Amerant Bancorp by 30.1% during the 2nd 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 during the period. SG Americas Securities LLC bought a new position in Amerant Bancorp in the 2nd quarter valued at about $199,000. Renaissance Technologies LLC acquired a new position in shares of Amerant Bancorp in the 2nd quarter valued at approximately $250,000. The Manufacturers Life Insurance Company increased its stake in Amerant Bancorp by 23.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock valued at $272,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Amerant Bancorp during the second quarter worth $281,000. Institutional investors own 42.11% of the company’s stock.

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.