Shares of Amerant Bancorp (AMTB) are soaring 5.09% in pre-market trading on Thursday following the release of its impressive second-quarter earnings report. The company's financial results significantly exceeded analyst expectations, demonstrating robust performance in a challenging banking environment.
Amerant Bancorp reported Q2 earnings of $0.55 per diluted share, a substantial increase from $0.15 a year earlier and well above the FactSet analyst consensus of $0.39 per share. The company's revenue, calculated as the sum of net interest income and non-interest income, reached $110.3 million for the quarter ended June 30, surpassing both the previous year's figure of $98.8 million and analyst projections of $103.5 million.
In addition to the strong earnings report, Amerant Bancorp announced it would maintain its quarterly dividend at $0.09 per share, payable on August 29 to shareholders of record as of August 15. This decision to keep the dividend steady amid solid financial performance further underscores the company's stability and commitment to shareholder returns, likely contributing to investor confidence and the stock's pre-market rally.
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