Zacks Investment Research downgrades Amerant Bancorp (NASDAQ: AMTB) to hold

Amerant Bancorp (NASDAQ:AMTB – Get a rating) was downgraded by Zacks Investment Research from a “strong buy” rating to a “hold” rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Amerant Bancorp Inc. is a bank holding company. It operates through its subsidiaries, Amerant Bank, NA, Amerant Investments, Inc. and Amerant Trust, NA. The company provides depository, lending and wealth management services to individuals and businesses primarily in the United States, as well as some international clients Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida . “

Separately, Raymond James cut its price target on Amerant Bancorp from $38.00 to $36.00 and set an “outperform” rating on the stock in a Friday, April 22 report. One analyst has assigned the stock a hold rating and three have assigned the stock a buy rating. According to MarketBeat.com, Amerant Bancorp currently has a consensus rating of “Buy” and a consensus price target of $31.50.

AMTB was up $0.25 during trading hours on Tuesday, hitting $29.41. The company’s shares had a trading volume of 6,504 shares, compared to an average volume of 112,358. Amerant Bancorp has a 52-week low of $20.01 and a 52-week high of $36.72. The company’s 50-day moving average is $28.97 and its 200-day moving average is $31.41. The company has a debt ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market capitalization of $1.01 billion, a PE ratio of 9.52 and a beta of 1.16.

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Amerant Bancorp (NASDAQ:AMTB – Get a rating) last released its quarterly results on Wednesday, April 20. The company reported earnings per share of $0.63 for the quarter, beating consensus analyst estimates of $0.41 by $0.22. Amerant Bancorp had a return on equity of 9.83% and a net margin of 30.67%. The company posted revenue of $69.67 million for the quarter, compared to $70.87 million expected by analysts. In the same quarter of the previous year, the company had achieved EPS of $0.39. Stock analysts expect Amerant Bancorp to post earnings per share of 2.19 for the current fiscal year.

In other news, Director Frederick C. Copeland, Jr. sold 1,000 shares of the company in a trade dated Thursday, May 12. The stock was sold at an average price of $27.60, for a total transaction of $27,600.00. Following completion of the transaction, the administrator now directly owns 17,523 shares of the company, valued at $483,634.80. The sale was disclosed in a filing with the Securities & Exchange Commission, available via this hyperlink. In addition, director Mr. Gustavo Marturet sold 2,189 shares of the company in a transaction dated Monday, March 14. The stock was sold at an average price of $31.34, for a total value of $68,603.26. Disclosure of this sale can be found here. 17.15% of the shares are currently held by insiders of the company.

Institutional investors and hedge funds have recently changed their holdings in the company. Lazard Asset Management LLC bought a new position in shares of Amerant Bancorp during the first quarter for a value of approximately $26,000. Addison Advisors LLC bought a new position in shares of Amerant Bancorp during the fourth quarter for a value of approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stock position in Amerant Bancorp during the fourth quarter for a value of approximately $49,000. Citigroup Inc. increased its position in Amerant Bancorp shares by 93.1% during the third quarter. Citigroup Inc. now owns 2,699 shares of the company worth $67,000 after acquiring 1,301 additional shares in the last quarter. Finally, Denali Advisors LLC purchased a new stake in Amerant Bancorp in the fourth quarter worth approximately $86,000. Institutional investors hold 34.58% of the company’s shares.

About Amerant Bancorp (Get a rating)

Amerant Bancorp Inc operates as a bank holding company for Amerant Bank, NA which provides personal and business banking products and services in the United States and abroad. The company offers checking, savings and money market accounts; and certificates of deposit. It also offers variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals mainly secured by personal residence; working capital loans, asset-based loans, national credit share participations, purchased receivables and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as auto, personal, or secured by cash or securities and revolving credit card contracts.

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