Amerant Bancorp (NYSE:AMTB) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Amerant Bancorp (NYSE:AMTB) issued its quarterly earnings data on Thursday. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.08, FiscalAI reports. The business had revenue of $90.46 million for the quarter, compared to analysts’ expectations of $103.35 million. Amerant Bancorp had a return on equity of 8.30% and a net margin of 8.76%.

Amerant Bancorp Trading Up 1.9%

AMTB stock traded up $0.57 during mid-day trading on Thursday, reaching $29.70. 434,827 shares of the stock traded hands, compared to its average volume of 314,158. Amerant Bancorp has a one year low of $15.62 and a one year high of $30.60. The stock has a market capitalization of $1.16 billion, a PE ratio of 21.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.86. The business has a 50-day moving average price of $29.10 and a two-hundred day moving average price of $26.22.

Analysts Set New Price Targets

AMTB has been the topic of a number of recent research reports. Zacks Research downgraded shares of Amerant Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 24th. Weiss Ratings raised shares of Amerant Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Stephens lowered Amerant Bancorp from an “overweight” rating to an “equal weight” rating and set a $32.00 price target for the company. in a research report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on Amerant Bancorp from $26.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amerant Bancorp has a consensus rating of “Moderate Buy” and an average price target of $27.75.

Amerant Bancorp Company Profile

Amerant Bancorp is the bank holding company for Amerant Bank, a regional financial institution headquartered in Coral Gables, Florida. Through its banking subsidiary, the company provides financial products and services to consumers, businesses and institutions, with a primary focus on markets in Florida and Texas.

Amerant Bank offers deposit accounts, consumer and commercial loans, residential mortgages, home equity products, credit cards and treasury management services. It also provides wealth management and investment services, along with digital banking tools that allow customers to manage accounts, transfer funds and make payments online and through mobile devices.

The company traces its origins to 1970, when it was established as Commercebank.