Amerant Bancorp (NASDAQ:AMTB) Shares Gap Up to $25.51

Shares of Amerant Bancorp Inc. (NASDAQ:AMTB) gapped up before the market opened on Monday . The stock had previously closed at $25.51, but opened at $26.50. Amerant Bancorp shares last traded at $26.64, with a volume of 206 shares traded.

Several analysts recently commented on AMTB shares. Piper Sandler upgraded shares of Amerant Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $30.00 in a report on Monday, August 30th. Stephens assumed coverage on shares of Amerant Bancorp in a research note on Wednesday, June 2nd. They issued an “equal weight” rating and a $25.50 target price for the company. Zacks Investment Research cut shares of Amerant Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 27th. Finally, TheStreet upgraded shares of Amerant Bancorp from a “c” rating to a “b-” rating in a research note on Monday, August 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $23.75.

The stock’s 50 day moving average price is $23.54 and its two-hundred day moving average price is $21.44. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $961.39 million, a price-to-earnings ratio of 24.66 and a beta of 1.05.

Amerant Bancorp (NASDAQ:AMTB) last issued its quarterly earnings data on Wednesday, July 21st. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.12. Amerant Bancorp had a net margin of 13.17% and a return on equity of 6.03%. The business had revenue of $65.71 million during the quarter, compared to analysts’ expectations of $62.18 million. As a group, equities research analysts anticipate that Amerant Bancorp Inc. will post 1.72 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Amerant Bancorp during the first quarter worth $59,000. Russell Investments Group Ltd. lifted its position in Amerant Bancorp by 208.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,940 shares of the company’s stock valued at $83,000 after purchasing an additional 2,661 shares during the period. Marshall Wace LLP bought a new stake in Amerant Bancorp during the 1st quarter worth approximately $87,000. Metropolitan Life Insurance Co NY boosted its holdings in shares of Amerant Bancorp by 99,837.5% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,995 shares of the company’s stock valued at $171,000 after buying an additional 7,987 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of Amerant Bancorp in the 2nd quarter valued at approximately $207,000. 29.22% of the stock is currently owned by institutional investors and hedge funds.

About Amerant Bancorp (NASDAQ:AMTB)

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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