Amerant Bancorp (NASDAQ:AMTB) Upgraded at Piper Sandler

Amerant Bancorp (NASDAQ:AMTB) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm currently has a $26.50 target price on the stock, up from their prior target price of $26.00. Piper Sandler’s price objective would suggest a potential upside of 30.54% from the company’s current price.

A number of other analysts also recently issued reports on the company. Janney Montgomery Scott downgraded Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Friday, July 26th. Keefe, Bruyette & Woods reduced their price objective on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Amerant Bancorp Stock Down 5.0 %

Shares of AMTB opened at $20.30 on Monday. The business’s 50 day moving average is $21.30 and its 200 day moving average is $22.04. The company has a market capitalization of $684.43 million, a PE ratio of 31.43 and a beta of 1.00. Amerant Bancorp has a 12-month low of $16.63 and a 12-month high of $27.00. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

Amerant Bancorp (NASDAQ:AMTB) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $93.19 million. During the same period in the previous year, the firm earned $0.24 EPS. Research analysts expect that Amerant Bancorp will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amerant Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Amerant Bancorp by 30.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after buying an additional 1,197 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Amerant Bancorp during the 2nd quarter worth $199,000. Renaissance Technologies LLC bought a new position in shares of Amerant Bancorp during the 2nd quarter worth $250,000. The Manufacturers Life Insurance Company grew its position in shares of Amerant Bancorp by 23.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock worth $272,000 after buying an additional 2,316 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Amerant Bancorp during the 2nd quarter worth $281,000. Institutional investors own 42.11% of the company’s stock.

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.