Amerant Bancorp (NASDAQ:AMTB) Stock Price Down 5.2% on Analyst Downgrade

Posted by on Jun 23rd, 2023

Amerant Bancorp Inc. (NASDAQ:AMTB – Get Rating) shares fell 5.2% during mid-day trading on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $25.00 to $23.00. The company traded as low as $17.75 and last traded at $17.93. 23,847 shares traded hands during trading, a decline of 68% from the average session volume of 75,493 shares. The stock had previously closed at $18.92.

Several other research analysts have also weighed in on AMTB. Raymond James cut their target price on Amerant Bancorp from $26.00 to $24.00 in a research report on Friday, June 16th. Stephens reaffirmed an “equal weight” rating and set a $24.00 price target on shares of Amerant Bancorp in a research report on Friday, April 21st.

Insiders Place Their Bets

In related news, CEO Gerald P. Plush bought 2,500 shares of the stock in a transaction dated Tuesday, April 25th. The stock was bought at an average cost of $18.17 per share, with a total value of $45,425.00. Following the completion of the acquisition, the chief executive officer now owns 54,865 shares of the company’s stock, valued at $996,897.05. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 4,500 shares of company stock valued at $80,375 in the last quarter. Insiders own 13.49% of the company’s stock.

Institutional Investors Weigh In On Amerant Bancorp

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Amerant Bancorp by 22.0% during the 1st quarter. JPMorgan Chase & Co. now owns 42,367 shares of the company’s stock valued at $921,000 after acquiring an additional 7,633 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in Amerant Bancorp by 153.6% in the first quarter. Susquehanna International Group LLP now owns 42,071 shares of the company’s stock worth $915,000 after purchasing an additional 25,479 shares during the period. State Street Corp grew its position in Amerant Bancorp by 6.7% in the 1st quarter. State Street Corp now owns 655,845 shares of the company’s stock valued at $14,271,000 after buying an additional 41,226 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Amerant Bancorp in the first quarter valued at approximately $202,000. Finally, Geode Capital Management LLC increased its position in shares of Amerant Bancorp by 4.6% during the 1st quarter. Geode Capital Management LLC now owns 527,225 shares of the company’s stock valued at $11,472,000 after purchasing an additional 23,043 shares during the period. Institutional investors own 38.82% of the company’s stock.

Amerant Bancorp Trading Down 5.4 %

The company has a debt-to-equity ratio of 1.65, a current ratio of 1.03 and a quick ratio of 1.02. The business has a fifty day moving average of $18.41 and a 200-day moving average of $23.48. The stock has a market capitalization of $605.20 million, a price-to-earnings ratio of 8.95 and a beta of 0.98.

Amerant Bancorp (NASDAQ:AMTB – Get Rating) last announced its earnings results on Thursday, April 20th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.14). The company had revenue of $101.68 million for the quarter, compared to analysts’ expectations of $97.91 million. Amerant Bancorp had a net margin of 14.33% and a return on equity of 9.82%. On average, equities analysts anticipate that Amerant Bancorp Inc. will post 2.59 earnings per share for the current fiscal year.

Amerant Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 12th.

Amerant Bancorp Company Profile

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Amerant Bancorp, Inc operates as the bank holding company, which provides banking products and services to individuals and businesses in the United States and internationally. The firm 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 secured by owner-occupied properties, loans to domestic and foreign individuals primarily secured by personal residence, working capital loans, asset-based lending, participations in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as automobile loans, personal loans, or loans secured by cash or securities and revolving credit card agreements.

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