Amerant Bancorp (NASDAQ:AMTB) Shares Gap Up – What’s Next?

Amerant Bancorp Inc. (NASDAQ:AMTB)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $20.27, but opened at $21.26. Amerant Bancorp shares last traded at $20.57, with a volume of 4,549 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMTB. Piper Sandler raised shares of Amerant Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $26.00 to $26.50 in a research report on Monday, September 30th. Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $25.00 in a research note on Monday, September 30th. Janney Montgomery Scott cut shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Friday, July 26th. Raymond James decreased their price target on shares of Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.10.

Amerant Bancorp Price Performance

The company has a market capitalization of $700.62 million, a P/E ratio of 31.26 and a beta of 0.99. The firm’s fifty day moving average is $20.98 and its 200 day moving average is $21.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.97.

Amerant Bancorp (NASDAQ:AMTB) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.07). The firm had revenue of $98.78 million for the quarter, compared to the consensus estimate of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, analysts predict that Amerant Bancorp Inc. will post 1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amerant Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in shares of Amerant Bancorp by 7.6% during the third quarter. Creative Planning now owns 11,974 shares of the company’s stock valued at $256,000 after purchasing an additional 850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Amerant Bancorp by 30.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock valued at $117,000 after acquiring an additional 1,197 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Amerant Bancorp by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock valued at $272,000 after acquiring an additional 2,316 shares during the last quarter. Rhumbline Advisers lifted its position in Amerant Bancorp by 10.9% during the second quarter. Rhumbline Advisers now owns 46,973 shares of the company’s stock valued at $1,066,000 after acquiring an additional 4,622 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Amerant Bancorp by 89.8% during the first quarter. BNP Paribas Financial Markets now owns 13,234 shares of the company’s stock valued at $308,000 after acquiring an additional 6,261 shares during the last quarter. 42.11% of the stock is currently owned by institutional investors.

About Amerant Bancorp

Amerant Bancorp Inc operates as the bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. It offers checking, savings, business, and money market accounts; cash management services; and certificates of deposits.