Amerant Bancorp (NASDAQ:AMTB) Posts Earnings Results, Beats Estimates By $0.04 EPS

Amerant Bancorp (NASDAQ:AMTB) issued its quarterly earnings results on Wednesday. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04, Zacks reports. The company had revenue of ($999.00) million for the quarter, compared to the consensus estimate 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 firm earned $0.64 EPS.

Amerant Bancorp Price Performance

NASDAQ AMTB traded up $0.22 on Friday, reaching $20.88. 225,920 shares of the company’s stock traded hands, compared to its average volume of 125,890. Amerant Bancorp has a 12 month low of $17.39 and a 12 month high of $27.00. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a 50-day simple moving average of $20.99 and a 200 day simple moving average of $21.79. The stock has a market cap of $698.02 million, a PE ratio of 33.74 and a beta of 0.99.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, November 14th. Amerant Bancorp’s payout ratio is currently 59.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMTB. Stephens raised 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 report on Monday, September 30th. Piper Sandler upped their price objective on shares of Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods dropped their price objective on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Raymond James decreased their price target on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Janney Montgomery Scott cut Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.60.

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.