AMTB reports Monday with short interest up 35% in a month. Options traders lean bullish as shares sit near book value.
Short interest hit 3.3% of float as of April 23, up 35% over the past month. The position climbed 8.2% in the past week alone. Days to cover stands at 5.32 based on recent trading volume. Cost to borrow remains negligible at 0.48%, down slightly from 0.50% a month ago. Utilisation sits at 6.88%, well below the 52-week high of 8.57%. The modest borrowing costs and low utilisation suggest ample share supply for shorts.
Put/call ratio registered 0.34 on April 24, running one standard deviation below the 20-day mean of 0.60. The tilt toward calls reflects relatively bullish options positioning heading into the print. The ratio has compressed steadily from 0.90 in late March.
The mean price target of $25.25 implies 11% upside from the April 24 close of $22.82. Recent activity shows upgrades and raises. Piper Sandler's Stephen Scouten lifted his target to $25 from $22 in late January while maintaining Overweight. Raymond James analyst Michael Rose raised his target to $23 from $21 and upgraded to Outperform in January. Keefe Bruyette's Wood Lay bumped the target to $23 from $21, keeping Market Perform. Benzinga's bull case highlights 3.5% quarter-over-quarter tangible book value growth and anticipated ROA of 80-90 basis points for Q4 2025, plus efficiency measures targeting $2–3 million in quarterly cost savings for 2026. The bear case flags loan growth headwinds from elevated payoffs, reliance on brokered deposits, and potential asset quality deterioration.
Shares trade at 0.94× book value, up 9% in the past month. The P/E ratio of 10.6 has risen modestly as the stock recovered. The bank ranks in the 86th percentile on 30-day EPS momentum but only the 16th percentile on 90-day EPS momentum, suggesting recent estimate strength. It sits in the 19th percentile on 12-month forward EPS growth expectations.
Insiders added 6,813 shares net over the past 90 days, worth roughly $154,000 in aggregate. Wellington Management trimmed its stake by 58,355 shares but remains the largest holder at 14.1%. Vanguard added 206,874 shares to reach 6.0%, and individual Gustavo Marturet Medina increased his position by 633,173 shares to 5.4%.
The stock dropped 4.9% on April 24 after closing relatively flat through much of the prior week. Shares rose 6.5% over the past month.
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