Mercantil Bank (NASDAQ:AMTB) Stock Rating Lowered by Zacks Investment Research

Mercantil Bank (NASDAQ:AMTB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, 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. “

AMTB has been the topic of a number of other reports. BidaskClub upgraded shares of Mercantil Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. SunTrust Banks dropped their price target on Mercantil Bank from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Finally, ValuEngine raised Mercantil Bank from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.25.

NASDAQ:AMTB opened at $13.35 on Friday. The company has a market capitalization of $562.90 million, a PE ratio of 43.06 and a beta of 0.47. Mercantil Bank has a 52-week low of $10.05 and a 52-week high of $23.59. The stock’s 50 day moving average price is $14.00 and its 200 day moving average price is $15.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.58.

Mercantil Bank (NASDAQ:AMTB) last posted its quarterly earnings data on Friday, July 24th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.20). The firm had revenue of $66.08 million during the quarter, compared to analyst estimates of $60.06 million. Mercantil Bank had a net margin of 11.26% and a return on equity of 1.69%. As a group, sell-side analysts anticipate that Mercantil Bank will post 0.02 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Mercantil Bank in the first quarter valued at about $87,000. Raymond James & Associates purchased a new position in shares of Mercantil Bank during the 4th quarter worth approximately $206,000. Renaissance Technologies LLC lifted its holdings in shares of Mercantil Bank by 35.1% in the 4th quarter. Renaissance Technologies LLC now owns 89,303 shares of the company’s stock valued at $1,946,000 after buying an additional 23,203 shares during the period. UBS Group AG boosted its stake in shares of Mercantil Bank by 52.4% in the fourth quarter. UBS Group AG now owns 22,977 shares of the company’s stock valued at $501,000 after buying an additional 7,902 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Mercantil Bank by 63.6% during the fourth quarter. Bank of New York Mellon Corp now owns 106,315 shares of the company’s stock worth $2,317,000 after acquiring an additional 41,335 shares during the period. Institutional investors and hedge funds own 18.74% 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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