Amerant Bancorp (NYSE:AMTB) Sets New 12-Month High After Analyst Upgrade

Amerant Bancorp Inc. (NYSE:AMTBGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $24.50 and last traded at $24.3140, with a volume of 4611 shares traded. The stock had previously closed at $23.81.

Other analysts have also recently issued reports about the company. Weiss Ratings raised Amerant Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Wall Street Zen raised Amerant Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Amerant Bancorp currently has an average rating of “Moderate Buy” and an average target price of $23.67.

Get Our Latest Stock Analysis on AMTB

Institutional Investors Weigh In On Amerant Bancorp

A number of large investors have recently added to or reduced their stakes in AMTB. Royal Bank of Canada increased its stake in Amerant Bancorp by 149.2% during the 1st quarter. Royal Bank of Canada now owns 2,524 shares of the company’s stock worth $56,000 after acquiring an additional 1,511 shares during the period. State of Wyoming acquired a new stake in shares of Amerant Bancorp during the 4th quarter worth $78,000. Tower Research Capital LLC TRC increased its position in shares of Amerant Bancorp by 11.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,986 shares of the company’s stock worth $91,000 after purchasing an additional 526 shares during the period. Raymond James Financial Inc. bought a new position in shares of Amerant Bancorp in the second quarter worth $129,000. Finally, Aquatic Capital Management LLC acquired a new position in Amerant Bancorp in the third quarter valued at about $143,000. Institutional investors and hedge funds own 42.11% of the company’s stock.

Amerant Bancorp Stock Performance

The stock has a 50 day moving average of $23.11 and a 200 day moving average of $22.01. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a market cap of $980.88 million, a price-to-earnings ratio of 17.68 and a beta of 0.90.

Amerant Bancorp (NYSE:AMTBGet Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Amerant Bancorp had a net margin of 8.83% and a return on equity of 8.59%. The firm had revenue of $177.94 million for the quarter, compared to the consensus estimate of $102.56 million. As a group, analysts anticipate that Amerant Bancorp Inc. will post 1.79 EPS for the current fiscal year.

Amerant Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.09 per share. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. Amerant Bancorp’s dividend payout ratio (DPR) is currently 25.53%.

About Amerant Bancorp

(Get Free Report)

Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.

Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.

See Also

Receive News & Ratings for Amerant Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amerant Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.