Updates

** Shares of regional lender Amerant Bancorp AMTB.N plunge as much as 16.8%; last down 11.7% at $17.2

** AMTB late Wednesday reported Q1 profit below Wall Street expectations on elevated credit costs, after beating estimates in the last two quarters

** Bank has now missed profit expectations twice in the last four quarters, per LSEG data

** Raymond James downgrades AMTB shares to "market perform" from "outperform"; says it is stepping to the sideline for now given persistent credit issues at the bank

** Piper Sandler says "more important than the miss itself are the frustrations that investors will likely feel after a mid-quarter message of improving credit trends"

** Says another quarter of elevated credit costs "likely impairs company credibility for investors"

** 3 of 5 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $25 - data compiled by LSEG

** As of last close, AMTB down 13% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))