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Amerant Bancorp Inc. (AMTB) Stock Jumps 6%: Will It Continue to Soar?

Zacks Equity Research
·1 min read

Amerant Bancorp Inc. (AMTB) shares rallied 6% in the last trading session to close at $17.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% gain over the past four weeks.

Increasing investor optimism over the accelerated recovery of the banking industry on the back of the extensive vaccination drive and an expectation of robust economic growth drove the stock higher.

Price and Consensus

Price Consensus Chart for Amerant Bancorp Inc.
Price Consensus Chart for Amerant Bancorp Inc.

This company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of +177.8%. Revenues are expected to be $59.95 million, down 15.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Amerant Bancorp Inc., the consensus EPS estimate for the quarter has been revised 41.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AMTB going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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Zacks Investment Research