Amerant Bancorp (NASDAQ:AMTB) Price Target Cut to $24.00 by Analysts at Keefe, Bruyette & Woods

Amerant Bancorp (NASDAQ:AMTB) had its price target lowered by equities research analysts at Keefe, Bruyette & Woods from $26.00 to $24.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.74% from the stock’s previous close.

Separately, Janney Montgomery Scott cut shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Friday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.20.

Amerant Bancorp Price Performance

Amerant Bancorp stock traded down $0.62 during mid-day trading on Monday, hitting $21.87. The company’s stock had a trading volume of 23,685 shares, compared to its average volume of 105,948. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $737.46 million, a P/E ratio of 32.38 and a beta of 1.01. Amerant Bancorp has a twelve month low of $16.63 and a twelve month high of $27.00. The stock’s fifty day moving average price is $22.75 and its two-hundred day moving average price is $22.50.

Amerant Bancorp (NASDAQ:AMTB) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.07). Amerant Bancorp had a return on equity of 7.79% and a net margin of 3.51%. During the same quarter last year, the business posted $0.24 earnings per share. Research analysts forecast that Amerant Bancorp will post 1.65 earnings per share for the current year.

Insiders Place Their Bets

In other Amerant Bancorp news, COO Carlos Iafigliola sold 10,579 shares of Amerant Bancorp stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.62, for a total transaction of $239,296.98. Following the completion of the sale, the chief operating officer now owns 9,961 shares of the company’s stock, valued at approximately $225,317.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amerant Bancorp news, CAO Armando Fleitas sold 6,240 shares of Amerant Bancorp stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.59, for a total transaction of $140,961.60. Following the completion of the sale, the chief accounting officer now owns 5,594 shares of the company’s stock, valued at approximately $126,368.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Carlos Iafigliola sold 10,579 shares of Amerant Bancorp stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.62, for a total transaction of $239,296.98. Following the sale, the chief operating officer now directly owns 9,961 shares of the company’s stock, valued at approximately $225,317.82. The disclosure for this sale can be found here. Corporate insiders own 13.49% of the company’s stock.

Institutional Investors Weigh In On Amerant Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Amerant Bancorp by 9.4% in the 4th quarter. Wellington Management Group LLP now owns 3,113,483 shares of the company’s stock valued at $76,498,000 after purchasing an additional 267,466 shares during the last quarter. Vanguard Group Inc. lifted its position in Amerant Bancorp by 0.7% during the 1st 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. Charles Schwab Investment Management Inc. lifted its position in Amerant Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 207,699 shares of the company’s stock worth $5,103,000 after acquiring an additional 2,649 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Amerant Bancorp by 15.8% during the 2nd 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, Mendon Capital Advisors Corp acquired a new position in Amerant Bancorp during the 4th quarter worth $3,563,000. Institutional investors and hedge funds 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.