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

Zacks Investment Research cut shares of Mercantil Bank (NASDAQ:AMTB) from a hold rating to a sell rating in a report released 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. “

Other equities research analysts have also issued reports about the company. BidaskClub upgraded Mercantil Bank from a strong sell rating to a sell rating in a research note on Saturday, June 6th. SunTrust Banks lowered their target price on Mercantil Bank from $16.00 to $14.00 and set a hold rating on the stock in a report on Tuesday, May 19th. Finally, ValuEngine upgraded Mercantil Bank from a sell rating to a hold rating in a report on Friday, May 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Mercantil Bank currently has a consensus rating of Hold and an average target price of $18.25.

NASDAQ:AMTB traded up $0.13 during trading hours on Friday, hitting $13.35. 57,538 shares of the stock were exchanged, compared to its average volume of 27,159. Mercantil Bank has a 52-week low of $10.05 and a 52-week high of $23.59. The firm’s fifty day moving average price is $14.00 and its 200 day moving average price is $15.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.58. The company has a market cap of $562.97 million, a P/E ratio of 42.65 and a beta of 0.47.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio lifted its holdings in Mercantil Bank by 9.1% in the second quarter. Strs Ohio now owns 13,200 shares of the company’s stock valued at $198,000 after acquiring an additional 1,100 shares during the last quarter. Denali Advisors LLC lifted its holdings in Mercantil Bank by 29.1% in the second quarter. Denali Advisors LLC now owns 5,150 shares of the company’s stock valued at $77,000 after acquiring an additional 1,160 shares during the last quarter. Royal Bank of Canada lifted its holdings in Mercantil Bank by 99.9% in the first quarter. Royal Bank of Canada now owns 2,379 shares of the company’s stock valued at $37,000 after acquiring an additional 1,189 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Mercantil Bank by 25.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,954 shares of the company’s stock valued at $92,000 after acquiring an additional 1,222 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Mercantil Bank by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 107,771 shares of the company’s stock valued at $1,658,000 after acquiring an additional 1,456 shares during the last quarter. Hedge funds and other institutional investors own 18.74% of the company’s stock.

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.

See Also: What sectors are represented in the FTSE 100 index?

Get a free copy of the Zacks research report on Mercantil Bank (AMTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mercantil Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercantil Bank and related companies with MarketBeat.com's FREE daily email newsletter.