ValuEngine Lowers Mercantil Bank (NASDAQ:AMTB) to Strong Sell

ValuEngine cut shares of Mercantil Bank (NASDAQ:AMTB) from a sell rating to a strong sell rating in a research note released on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Mercantil Bank from a strong sell rating to a hold rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $18.98.

AMTB stock traded down $0.02 during mid-day trading on Tuesday, reaching $20.25. 80 shares of the stock traded hands, compared to its average volume of 53,143. Mercantil Bank has a one year low of $13.15 and a one year high of $23.59. The stock has a market capitalization of $878.38 million and a PE ratio of 16.60. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day moving average price of $21.42 and a two-hundred day moving average price of $19.65.

Mercantil Bank (NASDAQ:AMTB) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $66.44 million for the quarter, compared to the consensus estimate of $67.36 million. Mercantil Bank had a return on equity of 7.81% and a net margin of 14.03%. On average, equities analysts expect that Mercantil Bank will post 1.2 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of Mercantil Bank during the first quarter valued at approximately $87,000. Wells Fargo & Company MN bought a new position in shares of Mercantil Bank in the 2nd quarter worth $654,000. JPMorgan Chase & Co. lifted its stake in shares of Mercantil Bank by 44.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,314 shares of the company’s stock worth $100,000 after purchasing an additional 1,624 shares during the last quarter. Bank of Montreal Can bought a new stake in Mercantil Bank during the second quarter valued at about $32,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Mercantil Bank during the second quarter valued at about $794,000. Institutional investors and hedge funds own 17.25% 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.

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Analyst Recommendations for Mercantil Bank (NASDAQ:AMTB)

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