Raymond James Cuts Amerant Bancorp (NASDAQ:AMTB) Price Target to $25.00

Amerant Bancorp (NASDAQ:AMTB) had its price target reduced by equities researchers at Raymond James from $27.00 to $25.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 23.76% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Janney Montgomery Scott cut Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Friday, July 26th. Piper Sandler raised Amerant Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $26.00 to $26.50 in a report on Monday. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $24.00 to $25.00 in a report on Monday. Finally, Keefe, Bruyette & Woods lowered their price objective on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.10.

Amerant Bancorp Trading Down 0.4 %

Shares of Amerant Bancorp stock traded down $0.08 during trading on Wednesday, reaching $20.20. The company’s stock had a trading volume of 78,651 shares, compared to its average volume of 120,077. Amerant Bancorp has a 52-week low of $16.63 and a 52-week high of $27.00. The firm’s 50-day moving average is $21.17 and its two-hundred day moving average is $22.03. The company has a market cap of $681.06 million, a price-to-earnings ratio of 29.47 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 1.25.

Amerant Bancorp (NASDAQ:AMTB) last posted its earnings results on Wednesday, July 24th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. The business had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $93.19 million. During the same period last year, the business posted $0.24 earnings per share. On average, sell-side analysts anticipate that Amerant Bancorp will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On Amerant Bancorp

A number of large investors have recently modified their holdings of AMTB. Wellington Management Group LLP boosted its position in shares of Amerant Bancorp by 9.4% during the fourth 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 in the last quarter. Salzhauer Michael grew its holdings in Amerant Bancorp by 66.7% during the first quarter. Salzhauer Michael now owns 24,988 shares of the company’s stock valued at $582,000 after purchasing an additional 10,000 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Amerant Bancorp by 89.8% in the first quarter. BNP Paribas Financial Markets now owns 13,234 shares of the company’s stock worth $308,000 after acquiring an additional 6,261 shares during the period. Vanguard Group Inc. lifted its position in shares of Amerant Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,619,150 shares of the company’s stock worth $37,710,000 after buying an additional 10,835 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Amerant Bancorp in the second quarter worth about $199,000. 42.11% of the stock is owned by hedge funds and other institutional investors.

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.