Amerant Bancorp (NASDAQ: AMTB) Reports Quarterly Results, Beats Expectations by $ 0.06 Per Share
Amerant Bancorp (NASDAQ: AMTB) released its results on Wednesday. The company reported EPS of $ 0.45 for the quarter, beating the consensus estimate of $ 0.39 by $ 0.06, Yahoo finance reports. Amerant Bancorp recorded a return on equity of 6.03% and a net margin of 13.17%. In the same quarter of last year, the company made EPS of $ 0.08.
AMTB shares opened at $ 26.72 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt ratio of 1.17. Amerant Bancorp has a 12-month low of $ 9.01 and a 12-month high of $ 28.22. The stock’s 50-day moving average is $ 25.11 and its two-hundred-day moving average is $ 22.61. The company has a market cap of $ 1.00 billion, a P / E ratio of 25.69 and a beta of 1.07.
AMTB has been the subject of several analyst reports. Piper Sandler downgraded Amerant Bancorp from a “neutral” to an “overweight” rating and raised its target price for the share from $ 23.00 to $ 30.00 in a report released on Monday, August 30. Raymond James raised his price target on Amerant Bancorp from $ 26.00 to $ 30.00 and gave the stock an “outperformance” rating in a report released on Thursday, October 7th. TheStreet downgraded Amerant Bancorp from a “c” rating to a “b-” rating in a report released on Monday, August 30. Ultimately, Zacks investment research downgraded Amerant Bancorp from a “buy” rating to a “conservation” rating in a report released on Wednesday, October 6. Four investment analysts rated the stock with a conservation rating and four gave the company’s stock a buy rating. According to MarketBeat.com, Amerant Bancorp currently has a consensus rating of “Buy” and an average price target of $ 26.50.
A hedge fund recently increased its stake in the shares of Amerant Bancorp. Morgan Stanley increased its position in Amerant Bancorp Inc. (NASDAQ: AMTB) by 669.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor held 25,004 shares of the company after acquiring an additional 21,753 shares during the quarter. Morgan Stanley owned approximately 0.07% of Amerant Bancorp valued at $ 534,000 at the time of its last filing with the SEC. 29.22% of the shares are currently held by institutional investors and hedge funds.
About Amerant Bancorp
Amerant Bancorp, Inc operates as a banking holding company, which provides banking products and services to individuals and businesses in the United States and around the world. The company offers a range of checking and savings accounts, certificates of deposit and money market accounts. It also provides variable and fixed rate commercial real estate loans, loans guaranteed by owner occupied properties, domestic and foreign personal loans mainly secured by personal residence, working capital loans, loans on assets, stakes in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as auto loans, loans personal or loans secured by cash or securities and revolving credit card agreements.
Featured Story: Stock Portfolio Tracker
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Amerant Bancorp now?
Before you consider Amerant Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes over … and Amerant Bancorp was not on the list.
While Amerant Bancorp currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here