Amerant Bancorp price target raised to $25 from $24 at Piper Sandler

Piper Sandler raised the firm’s price target on Amerant Bancorp to $25 from $24 and keeps an Overweight rating on the shares after meeting with full management team during recent visit to the company’s headquarters in Coral Gables. After years of post-IPO transformation initiatives, execution is the clear focus today, says Piper. The bank now has the full team in place to drive robust organic growth, optimize efficiency, and move beyond legacy credit issues. A 1% ROA, 12% ROTCE, and sub-60% E/R remain the targets – and although the firm models below those metrics today, Amerant’s high-quality markets and scale certainly provide the opportunity for achieving those goals, it adds.