Amerant Bancorp Inc. (NASDAQ:AMTB)’s share price rose 3.2% on Monday following a dividend announcement from the company. The company traded as high as $34.98 and last traded at $34.55. Approximately 3,981 shares changed hands during trading, a decline of 96% from the average daily volume of 92,714 shares. The stock had previously closed at $33.48.The newly announced dividend which will be paid on Monday, February 28th. Investors of record on Friday, February 11th will be paid a $0.09 dividend. The ex-dividend date is Thursday, February 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.04%. Amerant Bancorp’s dividend payout ratio is 4.14%.
AMTB has been the topic of several analyst reports. Raymond James boosted their price objective on shares of Amerant Bancorp from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial upped their price target on shares of Amerant Bancorp from $30.00 to $35.00 in a research report on Monday. Zacks Investment Research raised shares of Amerant Bancorp from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 4th. Finally, Stephens raised shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 8th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $30.86.
The company’s fifty day moving average price is $32.54. The company has a market cap of $1.30 billion, a PE ratio of 23.32 and a beta of 1.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.95 and a current ratio of 0.99.
Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings data on Wednesday, January 19th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.12. Amerant Bancorp had a net margin of 18.58% and a return on equity of 7.88%. During the same quarter last year, the company earned $0.27 EPS. On average, equities research analysts expect that Amerant Bancorp Inc. will post 1.72 EPS for the current year.
In related news, Director Millar Wilson sold 30,769 shares of the company’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $29.97, for a total value of $922,146.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director A. Gustavo J. Vollmer sold 2,630 shares of the stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $29.93, for a total transaction of $78,715.90. The disclosure for this sale can be found here. Corporate insiders own 17.15% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in Amerant Bancorp by 34.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,327,877 shares of the company’s stock valued at $57,592,000 after buying an additional 593,417 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Amerant Bancorp by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,066,124 shares of the company’s stock valued at $22,794,000 after acquiring an additional 30,034 shares during the period. State Street Corp grew its position in shares of Amerant Bancorp by 8.0% during the 2nd quarter. State Street Corp now owns 433,791 shares of the company’s stock valued at $9,274,000 after acquiring an additional 32,016 shares during the period. Geode Capital Management LLC grew its position in shares of Amerant Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 365,713 shares of the company’s stock valued at $9,047,000 after acquiring an additional 1,732 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Amerant Bancorp by 43.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 202,006 shares of the company’s stock valued at $4,998,000 after acquiring an additional 61,171 shares during the period. Hedge funds and other institutional investors own 31.13% of the company’s stock.
Amerant Bancorp Company Profile (NASDAQ:AMTB)
Amerant Bancorp, Inc operates as the bank holding company, which provides banking products and services to individuals and businesses in the United States and internationally. The firm offers a range of checking and savings accounts, certificates of deposit, and money market accounts. It also provides variable and fixed rate commercial real estate loans, loans secured by owner-occupied properties, loans to domestic and foreign individuals primarily secured by personal residence, working capital loans, asset-based lending, participations in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as automobile loans, personal loans, or loans secured by cash or securities and revolving credit card agreements.
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