Mercantil Bank (AMTB) Given a $18.00 Price Target at SunTrust Banks

SunTrust Banks set a $18.00 target price on Mercantil Bank (NASDAQ:AMTB) in a report issued on Monday, April 8th, Stock Target Advisor reports. The firm currently has a buy rating on the stock.

AMTB has been the subject of several other reports. Zacks Investment Research cut Mercantil Bank from a buy rating to a hold rating in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods started coverage on Mercantil Bank in a research note on Sunday, January 13th. They issued an outperform rating and a $19.00 price target on the stock. FIG Partners started coverage on Mercantil Bank in a research note on Friday, March 1st. They issued a market perform rating and a $17.00 price target on the stock. Raymond James started coverage on Mercantil Bank in a research note on Monday, January 14th. They issued an outperform rating and a $17.00 price target on the stock. Finally, Stephens started coverage on Mercantil Bank in a research note on Monday, January 14th. They issued an equal weight rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $18.40.

NASDAQ:AMTB traded down $0.04 during trading hours on Monday, hitting $17.81. The company had a trading volume of 24,858 shares, compared to its average volume of 29,638. The stock has a market cap of $766.85 million and a P/E ratio of 13.10. Mercantil Bank has a 1 year low of $10.65 and a 1 year high of $259.23.

Mercantil Bank (NASDAQ:AMTB) last issued its earnings results on Friday, April 26th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The company had revenue of $68.59 million during the quarter, compared to analysts’ expectations of $67.18 million. Analysts predict that Mercantil Bank will post 1.26 EPS for the current year.

In related news, major shareholder Servicios Financiero Mercantil sold 2,112,321 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $13.48, for a total transaction of $28,474,087.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new stake in Mercantil Bank in the 4th quarter valued at about $117,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Mercantil Bank in the 4th quarter valued at about $195,000. First Manhattan Co. acquired a new stake in Mercantil Bank in the 1st quarter valued at about $208,000. Tibra Equities Europe Ltd acquired a new stake in Mercantil Bank in the 1st quarter valued at about $226,000. Finally, Monashee Investment Management LLC acquired a new stake in Mercantil Bank in the 4th quarter valued at about $390,000. 9.06% of the stock is currently 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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Analyst Recommendations for Mercantil Bank (NASDAQ:AMTB)

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