Amerant Bancorp Inc. Declares Quarterly Dividend of $0.09 (NASDAQ:AMTB)

Amerant Bancorp Inc. (NASDAQ:AMTB - Get Free Report) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.09 per share on Friday, February 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.61%.

Amerant Bancorp has increased its dividend payment by an average of 81.7% annually over the last three years. Amerant Bancorp has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Amerant Bancorp to earn $2.06 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 17.5%.

Amerant Bancorp Stock Performance

Shares of Amerant Bancorp stock traded down $0.38 during trading hours on Wednesday, hitting $22.35. 227,476 shares of the company were exchanged, compared to its average volume of 173,497. Amerant Bancorp has a 1 year low of $18.54 and a 1 year high of $27.00. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average of $23.38 and a 200-day moving average of $22.29. The stock has a market capitalization of $941.03 million, a price-to-earnings ratio of -15.10 and a beta of 1.03.

Amerant Bancorp (NASDAQ:AMTB - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of ($999.00) million during the quarter, compared to analysts' expectations of $99.39 million. Amerant Bancorp had a positive return on equity of 5.73% and a negative net margin of 8.38%. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, analysts expect that Amerant Bancorp will post 1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMTB. Keefe, Bruyette & Woods increased their price objective on Amerant Bancorp from $24.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Stephens reiterated an "overweight" rating and issued a $29.00 price objective on shares of Amerant Bancorp in a research report on Friday, January 3rd. Piper Sandler upped their target price on Amerant Bancorp from $26.50 to $29.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Finally, Raymond James lowered their target price on Amerant Bancorp from $27.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Amerant Bancorp currently has an average rating of "Moderate Buy" and an average price target of $27.20.

Amerant Bancorp Company Profile

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. It offers checking, savings, business, and money market accounts; cash management services; and certificates of deposits.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.