Zacks Investment Research downgrades Amerant Bancorp (NASDAQ: AMTB) to hold


Amerant Bancorp (NASDAQ:AMTB – Get a Rating) was downgraded by Zacks Investment Research from a “strong buy” rating to a “hold” rating in a note released Tuesday to investors, Zacks.com reports.

According to Zacks, “Amerant Bancorp Inc. is a bank holding company. It operates through its subsidiaries, Amerant Bank, NA, Amerant Investments, Inc. and Amerant Trust, NA. The company provides deposit, credit and wealth management services to individuals and businesses primarily in the United States, as well as some international clients. Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida. “

Separately, Raymond James cut his price target on Amerant Bancorp from $38.00 to $36.00 and set an “outperform” rating on the stock in a Friday, April 22 report. One investment analyst has assigned the stock a hold rating and three have assigned the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $31.50.

AMTB shares rose $0.25 on Tuesday, hitting $29.41. The stock had a trading volume of 6,504 shares, compared to an average trading volume of 112,358. The stock has a market capitalization of $1.01 billion, a P/E ratio of 9.52 and a beta of 1.16. Amerant Bancorp has a 1-year low of $20.01 and a 1-year high of $36.72. The company has a debt ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.04. The company has a 50-day simple moving average of $28.97 and a 200-day simple moving average of $31.41.

Amerant Bancorp (NASDAQ:AMTB – Get Rating) last announced its results on Wednesday, April 20. The company reported EPS of $0.63 for the quarter, beating analyst consensus estimates of $0.41 by $0.22. The company posted revenue of $69.67 million for the quarter, compared to $70.87 million expected by analysts. Amerant Bancorp had a return on equity of 9.83% and a net margin of 30.67%. During the same period last year, the company achieved EPS of $0.39. On average, equity research analysts expect Amerant Bancorp to post earnings per share of 2.19 for the current fiscal year.

In addition, the director Mr. Gustavo Marturet sold 2,189 shares of Amerant Bancorp during a transaction dated Monday, March 14. The stock was sold at an average price of $31.34, for a total value of $68,603.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, director Frederick C. Copeland, Jr. sold 1,000 shares of Amerant Bancorp in a trade dated Thursday, May 12. The stock was sold at an average price of $27.60, for a total value of $27,600.00. Following completion of the transaction, the director now owns 17,523 shares of the company, valued at approximately $483,634.80. The disclosure of this sale can be found here. Insiders hold 17.15% of the shares of the company.

Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in Amerant Bancorp in the first quarter worth about $26,000. Addison Advisors LLC bought a new stock position in Amerant Bancorp during the fourth quarter, valued at around $38,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stock position in Amerant Bancorp during the fourth quarter, valued at around $49,000. Citigroup Inc. increased its position in Amerant Bancorp shares by 93.1% during the third quarter. Citigroup Inc. now owns 2,699 shares of the company valued at $67,000 after purchasing an additional 1,301 shares during the period. Finally, Denali Advisors LLC bought a new position in Amerant Bancorp stock during the fourth quarter valued at around $86,000. Institutional investors hold 34.58% of the company’s shares.

About Amerant Bancorp (Get a rating)

Amerant Bancorp Inc operates as a bank holding company for Amerant Bank, NA which provides personal and business banking products and services in the United States and abroad. The company offers checking, savings and money market accounts; and certificates of deposit. It also offers variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals mainly secured by personal residence; working capital loans, asset-based loans, national credit share participations, purchased receivables and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as auto, personal, or secured by cash or securities and revolving credit card contracts.

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