Amerant Bancorp transformation yields ‘formidable franchise’, says Stephens

Stephens transferred coverage of Amerant Bancorp to analyst Russell Gunther, who rates the stock at Equal Weight with a price target of $25. The company has checked the final box on its strategic plan to-do list with the completion of its core conversion, which concludes the heavy lift of repositioning the bank within its core Florida footprint, the analyst tells investors in a research note. Amerant is no longer the best-kept secret in South Florida, boasting scarcity value as the fourth largest bank headquartered in the state with a presence in the high-growth markets of Miami and Tampa, the firm added.