Amerant Bancorp (NYSE:AMTB) Reaches New 52-Week High on Earnings Beat

Amerant Bancorp Inc. (NYSE:AMTB) shares reached a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $28.17 and last traded at $27.0370, with a volume of 157099 shares. The stock had previously closed at $25.85.

The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.14. Amerant Bancorp had a return on equity of 8.26% and a net margin of 8.83%.The firm had revenue of $98.81 million during the quarter, compared to analysts’ expectations of $98.64 million.

Amerant Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. Amerant Bancorp’s dividend payout ratio is 25.90%.

Amerant Bancorp News Summary

Here are the key news stories impacting Amerant Bancorp this week:

• Positive Sentiment: Zacks Research upgraded Amerant Bancorp from hold to strong-buy, which can support sentiment by signaling improving analyst confidence in the stock. Zacks.com
• Positive Sentiment: The company reported Q2 earnings of $0.53 per share, beating Wall Street expectations and topping the consensus estimate of $0.41; revenue also came in slightly ahead of forecasts at $98.81 million. Amerant Bancorp Inc. (AMTB) Tops Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Amerant Bancorp also declared a quarterly dividend of $0.09 per share, reinforcing its shareholder-return profile, though the payout is modest and unlikely to be the main stock driver. Dividend announcement
• Neutral Sentiment: Additional coverage noted that investors were focusing on key operating metrics from the earnings release, but the main takeaway remains the earnings beat. Amerant Bancorp (AMTB) Reports Q2 Earnings: What Key Metrics Have to Say

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMTB shares. Weiss Ratings downgraded shares of Amerant Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Wall Street Zen upgraded Amerant Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Zacks Research raised Amerant Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Hedge Funds Weigh In On Amerant Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Partners GP II L.P. acquired a new stake in shares of Amerant Bancorp in the third quarter valued at approximately $44,621,000. North Reef Capital Management LP purchased a new position in shares of Amerant Bancorp during the 1st quarter worth approximately $25,577,000. Millennium Management LLC raised its position in shares of Amerant Bancorp by 756.2% during the 3rd quarter. Millennium Management LLC now owns 437,847 shares of the company’s stock worth $8,437,000 after purchasing an additional 386,710 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Amerant Bancorp during the 4th quarter worth approximately $4,153,000. Finally, Vanguard Group Inc. lifted its stake in Amerant Bancorp by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 2,424,944 shares of the company’s stock valued at $47,311,000 after buying an additional 206,874 shares in the last quarter. Institutional investors and hedge funds own 42.11% of the company’s stock.

Amerant Bancorp Trading Up 10.0%

The stock has a market cap of $1.12 billion, a PE ratio of 20.45 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $24.20 and a 200-day moving average of $22.83.

Amerant Bancorp Company Profile

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.