Brokerages Set Amerant Bancorp Inc. (NYSE:AMTB) PT at $23.67

Amerant Bancorp Inc. (NYSE:AMTB) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $23.6667.

A number of equities research analysts recently weighed in on AMTB shares. Zacks Research raised Amerant Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded Amerant Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings downgraded Amerant Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd.

Institutional Investors Weigh In On Amerant Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Amerant Bancorp by 149.2% during the first quarter. Royal Bank of Canada now owns 2,524 shares of the company’s stock worth $56,000 after buying an additional 1,511 shares in the last quarter. State of Wyoming acquired a new position in shares of Amerant Bancorp in the 4th quarter worth approximately $78,000. Tower Research Capital LLC TRC grew its position in Amerant Bancorp by 11.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,986 shares of the company’s stock worth $91,000 after acquiring an additional 526 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Amerant Bancorp during the 2nd quarter worth approximately $129,000. Finally, Aquatic Capital Management LLC acquired a new stake in Amerant Bancorp during the 3rd quarter valued at $143,000. Institutional investors and hedge funds own 42.11% of the company’s stock.

Amerant Bancorp Price Performance

NYSE:AMTB opened at $26.15 on Wednesday. The stock has a market cap of $1.03 billion, a P/E ratio of 18.54 and a beta of 0.88. Amerant Bancorp has a one year low of $15.62 and a one year high of $26.66. The company has a fifty day moving average price of $23.84 and a 200 day moving average price of $22.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.85.

Amerant Bancorp (NYSE:AMTB) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $177.94 million for the quarter, compared to analyst estimates of $102.56 million. Amerant Bancorp had a net margin of 8.83% and a return on equity of 8.59%. Analysts anticipate that Amerant Bancorp will post 1.79 earnings per share for the current year.

Amerant Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 15th. Amerant Bancorp’s payout ratio is presently 25.53%.

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.