Zacks Investment Research upgraded shares of Mercantil Bank (NASDAQ:AMTB) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. Zacks Investment Research currently has $20.00 price target on the stock.
According to Zacks, “Mercantil Bank Holding Corporation is a bank holding company that operates through its wholly-owned subsidiary bank, Amerant Bank N.A., including its investment and trust services subsidiaries, Amerant Investments Inc. and Amerant Trust N.A. It provides deposit, credit and wealth management services to individuals and businesses primarily in the United States. Mercantil Bank Holding Corporation is headquartered in Coral Gables, Florida. “
AMTB has been the subject of several other reports. Raymond James raised their target price on shares of Mercantil Bank from $17.00 to $18.00 and gave the company an outperform rating in a research note on Monday, April 29th. ValuEngine upgraded shares of Mercantil Bank from a sell rating to a hold rating in a research note on Thursday, May 9th. SunTrust Banks set a $18.00 target price on shares of Mercantil Bank and gave the company a buy rating in a research note on Monday, April 8th. Finally, FIG Partners assumed coverage on shares of Mercantil Bank in a research note on Friday, March 1st. They issued a market perform rating and a $17.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $18.40.
Mercantil Bank (NASDAQ:AMTB) last announced its earnings results on Friday, April 26th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The firm had revenue of $68.59 million during the quarter, compared to analyst estimates of $67.18 million. On average, equities research analysts expect that Mercantil Bank will post 1.29 earnings per share for the current year.
In other Mercantil Bank news, major shareholder Servicios Financiero Mercantil sold 2,112,321 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $13.48, for a total value of $28,474,087.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Mercantil Bank during the first quarter worth $51,000. Morgan Stanley acquired a new stake in shares of Mercantil Bank during the first quarter worth $60,000. Marshall Wace LLP acquired a new stake in shares of Mercantil Bank during the first quarter worth $87,000. Victory Capital Management Inc. acquired a new stake in shares of Mercantil Bank during the fourth quarter worth $117,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Mercantil Bank during the first quarter worth $145,000. Institutional investors and hedge funds own 9.41% of the company’s stock.
About Mercantil Bank
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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