Brokerages Set Amerant Bancorp Inc. (NYSE:AMTB) Target Price at $23.75

Amerant Bancorp Inc. (NYSE:AMTB) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.75.

A number of research firms have recently weighed in on AMTB. Weiss Ratings reissued a “hold (c)” rating on shares of Amerant Bancorp in a report on Monday, December 29th. Zacks Research downgraded shares of Amerant Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Piper Sandler raised their price target on shares of Amerant Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Raymond James Financial lifted their price objective on shares of Amerant Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen downgraded shares of Amerant Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, March 1st.

Insider Activity

In related news, Director Odilon Almeida purchased 4,816 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $20.99 per share, for a total transaction of $101,087.84. Following the completion of the purchase, the director owned 5,316 shares in the company, valued at approximately $111,582.84. This represents a 963.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.37% of the company’s stock.

Hedge Funds Weigh In On Amerant Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Guerra Advisors Inc bought a new stake in shares of Amerant Bancorp during the 3rd quarter valued at $32,000. State of Wyoming bought a new position in shares of Amerant Bancorp in the fourth quarter worth $78,000. CWM LLC increased its position in shares of Amerant Bancorp by 153.4% in the third quarter. CWM LLC now owns 4,748 shares of the company’s stock worth $91,000 after purchasing an additional 2,874 shares during the period. Tower Research Capital LLC TRC raised its stake in Amerant Bancorp by 11.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,986 shares of the company’s stock valued at $91,000 after purchasing an additional 526 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Amerant Bancorp in the second quarter valued at about $129,000. 42.11% of the stock is owned by institutional investors and hedge funds.

Amerant Bancorp Price Performance

Shares of NYSE AMTB opened at $20.90 on Thursday. The firm has a market cap of $862.38 million, a P/E ratio of 16.72 and a beta of 1.00. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.86. Amerant Bancorp has a 1-year low of $15.62 and a 1-year high of $23.55. The business’s 50 day moving average is $21.57 and its 200-day moving average is $20.04.

Amerant Bancorp (NYSE:AMTB) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. Amerant Bancorp had a return on equity of 7.78% and a net margin of 7.75%.The business had revenue of $230.71 million during the quarter.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, February 13th. Amerant Bancorp’s payout ratio is presently 28.80%.

About Amerant Bancorp

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.