Amerant Bancorp (NASDAQ:AMTB) Releases Earnings Results, Beats Expectations By $0.04 EPS

Amerant Bancorp (NASDAQ:AMTB) announced its quarterly earnings data on Wednesday. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04, Zacks reports. The firm had revenue of ($999.00) million for the quarter, compared to analyst estimates of $99.39 million. Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. During the same quarter in the prior year, the company posted $0.64 earnings per share.

Amerant Bancorp Price Performance

NASDAQ:AMTB traded up $0.18 during trading hours on Friday, reaching $20.84. 58,037 shares of the company traded hands, compared to its average volume of 125,079. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.97 and a quick ratio of 0.89. The firm’s 50-day moving average is $20.99 and its 200-day moving average is $21.79. The stock has a market cap of $696.68 million, a P/E ratio of 33.74 and a beta of 0.99. Amerant Bancorp has a 1-year low of $17.39 and a 1-year high of $27.00.

Amerant Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.73%. Amerant Bancorp’s dividend payout ratio is currently 59.02%.

Analysts Set New Price Targets

AMTB has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Janney Montgomery Scott lowered shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Friday, July 26th. Piper Sandler lifted their price target on shares of Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a research report on Friday. Stephens raised 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, September 30th. Finally, Raymond James dropped their price objective on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.60.

Amerant Bancorp Company Profile

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.