Mercantil Bank Holding Corp (NASDAQ:AMTB) has been given an average rating of “Buy” by the seven analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.80.
A number of brokerages have commented on AMTB. Zacks Investment Research cut shares of Mercantil Bank from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. SunTrust Banks set a $18.00 target price on shares of Mercantil Bank and gave the company a “buy” rating in a report on Monday, April 8th. Stephens began coverage on shares of Mercantil Bank in a report on Monday, January 14th. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods began coverage on shares of Mercantil Bank in a report on Sunday, January 13th. They set an “outperform” rating and a $19.00 target price for the company. Finally, FIG Partners began coverage on shares of Mercantil Bank in a report on Friday, March 1st. They set a “market perform” rating and a $17.00 target price for the company.
In other news, major shareholder Servicios Financiero Mercantil sold 2,112,321 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors have recently modified their holdings of AMTB. Victory Capital Management Inc. bought a new position in Mercantil Bank during the fourth quarter valued at $117,000. Raymond James Financial Services Advisors Inc. bought a new position in Mercantil Bank during the fourth quarter valued at $195,000. First Manhattan Co. bought a new position in Mercantil Bank during the first quarter valued at $208,000. Tibra Equities Europe Ltd bought a new position in Mercantil Bank during the first quarter valued at $226,000. Finally, Monashee Investment Management LLC bought a new position in Mercantil Bank during the fourth quarter valued at $390,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.
Shares of AMTB stock opened at $16.30 on Friday. Mercantil Bank has a 12 month low of $10.65 and a 12 month high of $259.23. The company has a market cap of $704.16 million and a price-to-earnings ratio of 11.99.
Mercantil Bank (NASDAQ:AMTB) last announced its earnings results on Tuesday, January 29th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.17. The business had revenue of $68.78 million for the quarter. As a group, equities research analysts predict that Mercantil Bank will post 1.26 EPS for the current year.
About Mercantil Bank
Mercantil Bank Holding Corporation offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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