AMTB

MKT CAP:$941M

Amerant Bancorp Inc.

Market Cap

$941M

Financial Services·Banks - Regional·🇺🇸 United States·NYSE

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$23.62+$3.91 (+19.84%)

Apr 22, 2026

Company Details

Amerant Bancorp Inc. operates as the bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. The company offers checking, savings, and m...

CEO

Carlos Iafigliola

IPO Date

Oct 18, 2018

Website

www.amerantbank.com

Key Metrics TTM

Revenue

$652M

+19.9% YoY

Net Income

$67M

EPS (Diluted)

$1.58

Free Cash Flow

$175M

Revenue / Share

$15.60

Gross Margin

54.9%

Operating Margin

12.6%

Net Margin

10.2%

FCF Margin

26.8%

P/S

1.4x

P/E

14.1x

Earnings Reports

Q3 2025

Oct 31, 2025

$167M+63.6%EPS $0.35

Q2 2025

Aug 1, 2025

$169M+3.3%EPS $0.55

Q1 2025

May 2, 2025

$165M+4.0%EPS $0.28

FY 2024

Mar 4, 2025

$575MEPS -$0.44

Q4 2024

Mar 4, 2025

$150MEPS $0.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$93M	$69M	$16M
Q1 20	$93M	$49M	$4M
Q2 20	$84M	$18M	-$19M
Q3 20	$82M	$48M	$2M
Q4 20	$75M	$60M	$9M
Q1 21	$74M	$62M	$18M
Q2 22	$82M	$71M	$11M
Q3 22	$103M	$77M	$22M
Q4 22	$118M	$66M	$23M
Q1 24	$159M	$80M	$13M
Q2 24	$164M	$78M	$6M
Q3 24	$102M	$13M	-$62M
Q4 24	$150M	$75M	$18M
Q1 25	$165M	$86M	$15M
Q2 25	$169M	$102M	$30M
Q3 25	$167M	$94M	$19M

Valuation

Quarter	P/S	P/E
Q4 19	2.5x	18.0x
Q1 20	1.7x	15.5x
Q2 20	1.7x	46.3x
Q3 20	1.2x	129.2x
Q4 20	1.9x	—
Q1 21	2.1x	72.4x
Q2 22	3.0x	28.5x
Q3 22	2.5x	16.9x
Q4 22	2.4x	15.4x
Q1 24	1.6x	13.8x
Q2 24	1.4x	14.6x
Q3 24	1.3x	—
Q4 24	1.3x	—
Q1 25	1.5x	—
Q2 25	1.3x	208.3x
Q3 25	1.2x	12.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	$3M	-$3M
Q1 20	$3M	$2M
Q2 20	$24M	$22M
Q3 20	$23M	$23M
Q4 20	$7M	$5M
Q1 21	$7M	$6M
Q2 22	-$37M	-$39M
Q3 22	$17M	$13M
Q4 22	-$17M	-$20M
Q1 24	$3M	-$694.0K
Q2 24	-$2M	-$4M
Q3 24	$4M	$3M
Q4 24	$78M	$77M
Q1 25	$20M	$18M
Q2 25	$58M	$56M
Q3 25	$23M	$24M

Capital Expenditures

Quarter	CapEx
Q4 19	$6M
Q1 20	$1M
Q2 20	$2M
Q3 20	$515.0K
Q4 20	$2M
Q1 21	$805.0K
Q2 22	$3M
Q3 22	$4M
Q4 22	$3M
Q1 24	$3M
Q2 24	$2M
Q3 24	$2M
Q4 24	$792.0K
Q1 25	$2M
Q2 25	$1M
Q3 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	-1.3%	-1.9%
Q1 20	+0.4%	+16.7%
Q2 20	-10.1%	+34.1%
Q3 20	-10.7%	+4.2%
Q4 20	-19.4%	-13.9%
Q1 21	-20.1%	-36.6%
Q2 22	-1.9%	-30.5%
Q3 22	+25.6%	+1.0%
Q4 22	+58.3%	+43.4%
Q1 24	+113.6%	+158.3%
Q2 24	+98.8%	+119.3%
Q3 24	-1.1%	+102.9%
Q4 24	+26.8%	+39.0%
Q1 25	+4.0%	+3.0%
Q2 25	+3.3%	-11.5%
Q3 25	+63.6%	-9.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$2M	2.1%
Q1 20	$392.0K	0.4%
Q2 20	$750.0K	0.9%
Q3 20	$524.0K	0.6%
Q4 20	$641.0K	0.9%
Q1 21	$757.0K	1.0%
Q2 22	$1M	1.5%
Q3 22	$2M	1.6%
Q4 22	$2M	1.4%
Q1 24	$2M	1.0%
Q2 24	$1M	0.9%
Q3 24	$1M	1.2%
Q4 24	$802.0K	0.5%
Q1 25	$790.0K	0.5%
Q2 25	$2M	1.0%
Q3 25	$1M	0.7%

OpEx Breakdown

Quarter	G&A	S&M
Q4 19	$37M	—
Q1 20	$30M	—
Q2 20	$23M	—
Q3 20	$30M	—
Q4 20	$34M	—
Q1 21	$28M	$316.0K
Q2 22	$32M	$3M
Q3 22	$32M	$2M
Q4 22	$35M	$3M
Q1 24	$36M	$3M
Q2 24	$37M	$4M
Q3 24	$38M	$3M
Q4 24	$38M	$4M
Q1 25	$39M	—
Q2 25	$42M	—
Q3 25	$40M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$332M	$1.1B	$1.5B
Q3 22	$256M	$1.1B	$1.3B
Q4 22	$248M	$1.1B	$1.3B
Q1 23	$453M	$1.0B	$1.5B
Q2 23	$411M	$1.0B	$1.4B
Q3 23	$257M	$1.0B	$1.3B
Q4 23	$296M	$1.2B	$1.5B
Q1 24	$626M	$1.3B	$1.9B
Q2 24	$278M	$1.3B	$1.5B
Q3 24	$662M	$10M	$672M
Q4 24	$566M	$1.4B	$2.0B
Q1 25	$635M	$2M	$637M
Q2 25	$629M	$2M	$631M
Q3 25	$624M	$2M	$626M
Q4 25	$470M	$2.0B	$2.5B
Q1 26	$189M	$2.4B	$2.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	43M	+0.3%	-0.3%
Q1 20	43M	-1.2%	-0.9%
Q2 20	42M	-1.9%	-2.6%
Q3 20	42M	+0.8%	-2.0%
Q4 20	42M	-0.9%	-3.2%
Q1 21	38M	-9.2%	-11.0%
Q2 22	34M	-10.4%	-18.7%
Q3 22	34M	-0.5%	-19.8%
Q4 22	34M	+0.2%	-18.9%
Q1 24	33M	-1.1%	-11.7%
Q2 24	34M	+1.0%	-0.4%
Q3 24	34M	+0.0%	+0.1%
Q4 24	42M	+25.1%	+25.0%
Q1 25	42M	-0.2%	+26.2%
Q2 25	42M	-0.7%	+24.0%
Q3 25	42M	-0.2%	+23.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	—	—
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	$104.6K	714
Q1 21	$104.3K	714
Q2 22	$108.0K	763
Q3 22	$135.4K	763
Q4 22	$170.8K	692
Q1 24	$233.3K	682
Q2 24	$240.2K	682
Q3 24	$149.8K	682
Q4 24	$214.7K	698
Q1 25	$237.0K	698
Q2 25	$242.3K	698
Q3 25	$239.4K	698

Revenue / Employee