Piper Sandler Upgrades Amerant Bancorp (NASDAQ:AMTB) to “Overweight”

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, Briefing.com reports. The brokerage currently has a $26.50 price objective on the stock, up from their previous price objective of $26.00. Piper Sandler’s target price suggests a potential upside of 29.21% from the company’s previous close.

A number of other research firms have also commented on AMTB. Janney Montgomery Scott lowered 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. 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Amerant Bancorp currently has an average rating of “Hold” and a consensus price target of $25.50.

Amerant Bancorp Stock Up 0.1 %

AMTB opened at $20.51 on Monday. Amerant Bancorp has a fifty-two week low of $16.63 and a fifty-two week high of $27.00. The company has a market capitalization of $691.52 million, a P/E ratio of 30.16 and a beta of 1.00. 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 firm’s fifty day moving average price is $21.40 and its two-hundred day moving average price is $22.04.

Amerant Bancorp (NASDAQ:AMTB) last announced its earnings results 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). The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $93.19 million. Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. During the same quarter last year, the business earned $0.24 EPS. On average, analysts anticipate that Amerant Bancorp will post 1.33 EPS for the current year.

Institutional Investors Weigh In On Amerant Bancorp

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

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.