Zacks Investment Research Downgrades Mercantil Bank (NASDAQ:AMTB) to Strong Sell

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Zacks Investment Research downgraded shares of Mercantil Bank (NASDAQ:AMTB) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Amerant Bancorp Inc. is a bank holding company. It operates through its subsidiaries, Amerant Bank, N.A., Amerant Investments, Inc. and Amerant Trust, N.A. The Company provides deposit, credit and wealth management services to individuals and businesses primarily in the U.S., as well as select international clients. Amerant Bancorp Inc., formerly known as Mercantil Bank Holding Corporation, is headquartered in Coral Gables, Florida. “

Several other equities analysts have also recently weighed in on the stock. ValuEngine raised shares of Mercantil Bank from a sell rating to a hold rating in a research note on Friday, October 4th. Stephens reaffirmed a hold rating and set a $19.00 price target on shares of Mercantil Bank in a research note on Thursday, August 8th. Finally, Raymond James cut shares of Mercantil Bank from an outperform rating to a market perform rating and set a $19.00 price target for the company. in a research note on Friday, September 13th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Mercantil Bank currently has a consensus rating of Hold and a consensus price target of $18.98.

Mercantil Bank stock traded down $0.39 during trading hours on Wednesday, reaching $21.08. 36,100 shares of the company’s stock traded hands, compared to its average volume of 72,080. The firm has a market capitalization of $934.05 million and a price-to-earnings ratio of 15.50. Mercantil Bank has a fifty-two week low of $10.65 and a fifty-two week high of $21.89. The firm’s 50 day moving average is $19.77 and its 200-day moving average is $18.46. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.01 and a current ratio of 1.01.

Mercantil Bank (NASDAQ:AMTB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $66.44 million during the quarter, compared to analysts’ expectations of $67.36 million. Mercantil Bank had a net margin of 13.91% and a return on equity of 7.93%. Analysts predict that Mercantil Bank will post 1.19 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMTB. Marshall Wace LLP acquired a new stake in shares of Mercantil Bank in the 1st quarter valued at approximately $87,000. Strs Ohio acquired a new stake in shares of Mercantil Bank in the 2nd quarter valued at approximately $102,000. First Trust Advisors LP acquired a new stake in shares of Mercantil Bank in the 2nd quarter valued at approximately $409,000. Wells Fargo & Company MN acquired a new stake in shares of Mercantil Bank in the 2nd quarter valued at approximately $654,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Mercantil Bank by 44.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,314 shares of the company’s stock valued at $100,000 after buying an additional 1,624 shares during the last quarter. 13.85% of the stock is owned by institutional investors.

Mercantil Bank Company Profile

Mercantil Bank Holding Corporation operates as a bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. The company operates through four segments: Personal and Commercial Banking, Corporate LATAM, Treasury, and Institutional.

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