Fintel reports that on April 21, 2023, Stephens & Co. reiterated coverage of Mercantil Bank Holding (NASDAQ:AMTB) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 77.90% Upside
As of April 6, 2023, the average one-year price target for Mercantil Bank Holding is $32.54. The forecasts range from a low of $28.28 to a high of $37.80. The average price target represents an increase of 77.90% from its latest reported closing price of $18.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Mercantil Bank Holding is $382MM, an increase of 16.19%. The projected annual non-GAAP EPS is $2.72.
Mercantil Bank Holding Declares $0.09 Dividend
On April 20, 2023 the company declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Shareholders of record as of May 15, 2023 will receive the payment on May 31, 2023. Previously, the company paid $0.09 per share.
At the current share price of $18.29 / share, the stock’s dividend yield is 1.97%. Looking back five years and taking a sample every week, the average dividend yield has been 1.92%, the lowest has been 0.68%, and the highest has been 3.60%. The standard deviation of yields is 0.65 (n=216).
The current dividend yield is 0.08 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.18. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 247 funds or institutions reporting positions in Mercantil Bank Holding. This is a decrease of 1 owner(s) or 0.40% in the last quarter. Average portfolio weight of all funds dedicated to AMTB is 0.15%, a decrease of 0.70%. Total shares owned by institutions increased in the last three months by 1.67% to 13,981K shares. The put/call ratio of AMTB is 1.58, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 2,125K shares representing 6.34% ownership of the company. In it’s prior filing, the firm reported owning 2,157K shares, representing a decrease of 1.51%. The firm increased its portfolio allocation in AMTB by 0.21% over the last quarter.
Patriot Financial Partners Gp holds 2,078K shares representing 6.20% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 952K shares representing 2.84% ownership of the company. In it’s prior filing, the firm reported owning 846K shares, representing an increase of 11.11%. The firm increased its portfolio allocation in AMTB by 12.26% over the last quarter.
IWM – iShares Russell 2000 ETF holds 656K shares representing 1.95% ownership of the company. In it’s prior filing, the firm reported owning 602K shares, representing an increase of 8.12%. The firm increased its portfolio allocation in AMTB by 6.50% over the last quarter.
Geode Capital Management holds 504K shares representing 1.50% ownership of the company. In it’s prior filing, the firm reported owning 486K shares, representing an increase of 3.54%. The firm increased its portfolio allocation in AMTB by 3.64% over the last quarter.
Amerant Bancorp Background Information
(This description is provided by the company.)
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiaries, Amerant Bank, N.A. (the ‘Bank’), Amerant Investments, Inc., Amerant Trust, N.A., Elant Bank and Trust Ltd. and Amerant Mortgage, LLC. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is the second largest community bank headquartered in Florida. The Bank operates 25 banking centers – 18 in South Florida and 7 in the Houston, Texas area, as well as a commercial real estate loan production office in New York City.
See all Mercantil Bank Holding regulatory filings.
This story originally appeared on Fintel.
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