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

Amerant Bancorp (NASDAQ:AMTB) had its price objective dropped by equities research analysts at Raymond James from $27.00 to $25.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 23.89% from the stock’s current price.

A number of other brokerages have also issued reports on AMTB. Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $25.00 in a research note on Monday. Piper Sandler raised shares of Amerant Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $26.00 to $26.50 in a report on Monday. Janney Montgomery Scott downgraded shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Amerant Bancorp has an average rating of “Moderate Buy” and an average price target of $25.10.

Amerant Bancorp Price Performance

Amerant Bancorp stock opened at $20.18 on Wednesday. The stock has a market cap of $680.39 million, a P/E ratio of 29.68 and a beta of 0.99. The company has a fifty day simple moving average of $20.97 and a 200-day simple moving average of $22.00. 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 posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). The business had revenue of $98.78 million during the quarter, compared to analyst estimates of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities analysts expect that Amerant Bancorp will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Amerant Bancorp by 30.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after acquiring an additional 1,197 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Amerant Bancorp in the 2nd quarter worth about $199,000. Renaissance Technologies LLC acquired a new stake in shares of Amerant Bancorp in the 2nd quarter worth about $250,000. The Manufacturers Life Insurance Company increased its holdings 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 worth $272,000 after acquiring an additional 2,316 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Amerant Bancorp in the 2nd quarter worth about $281,000. 42.11% of the stock is currently owned by 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.