Amerant Bancorp (NASDAQ:AMTB) Price Target Raised to $29.00 at Piper Sandler

Amerant Bancorp (NASDAQ:AMTB) had its target price increased by Piper Sandler from $26.50 to $29.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

AMTB has been the subject of several other reports. Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $25.00 in a research report on Monday, September 30th. Janney Montgomery Scott lowered shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut their target price on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, July 29th. Finally, Raymond James cut their target price on shares of Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amerant Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Amerant Bancorp Stock Performance

Shares of AMTB stock opened at $20.88 on Friday. The company has a 50 day moving average price of $20.99 and a 200-day moving average price of $21.78. Amerant Bancorp has a 52 week low of $17.39 and a 52 week high of $27.00. The firm has a market capitalization of $703.99 million, a PE ratio of 30.71 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 1.25.

Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of ($999.00) million during the quarter, compared to analyst estimates of $99.39 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same period in the previous year, the business posted $0.64 earnings per share. As a group, equities research analysts expect that Amerant Bancorp will post 1.15 earnings per share for the current year.

Amerant Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, November 14th. Amerant Bancorp’s dividend payout ratio is currently 52.94%.

Hedge Funds Weigh In On Amerant Bancorp

Several large investors have recently added to or reduced their stakes in AMTB. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 6,261 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Amerant Bancorp by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,619,150 shares of the company’s stock worth $37,710,000 after acquiring an additional 10,835 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Amerant Bancorp during the second quarter worth $199,000. Bank of New York Mellon Corp boosted its position in shares of Amerant Bancorp by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 156,190 shares of the company’s stock worth $3,546,000 after acquiring an additional 21,318 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Amerant Bancorp by 30.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after acquiring an additional 1,197 shares during the last quarter. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Company Profile

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.