Mercantil Bank Holding Cl A Down 7.59% To $17.42 After Earnings Beat

Mercantil Bank Holding Cl A (AMTB) said after close Thursday that it earned $0.64 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $93.6 million, missing estimates by $3.8 million.

In the same quarter a year ago, the company earned $0.4 per share on revenue of $97.5 million. The company reported revenue on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

The stock is down 7.59% to $17.42 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Mercantil Bank Holding Cl A has performed a little below average during the past few months. Before the report, Mercantil Bank Holding Cl A received a Long-Term Technical Rank by InvestorsObserver of 39, putting it in the bottom half of stocks. The firm set a 52-week low on May 4, 2023 at $15.79 and set a 52-week high on October 27, 2022 at $31.09.

Amerant Bancorp Inc is a bank holding company. Through its bank, it provides individuals and businesses deposit, credit, investment, wealth management and fiduciary services, both in the United States and to select international customers. The bank also provides banking services through traditional channels, such as banking centers and ATMs, as well as via secure websites, mobile devices, and telephone.