Wellington Management Group LLP Acquires 2,401,027 Shares of Amerant Bancorp Inc. (NASDAQ:AMTB)

Wellington Management Group LLP grew its position in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 74.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,642,703 shares of the company's stock after buying an additional 2,401,027 shares during the period. Wellington Management Group LLP owned approximately 16.88% of Amerant Bancorp worth $120,585,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMTB. Quantbot Technologies LP bought a new stake in shares of Amerant Bancorp in the third quarter worth $65,000. US Bancorp DE grew its holdings in shares of Amerant Bancorp by 655.8% in the 3rd quarter. US Bancorp DE now owns 3,212 shares of the company's stock valued at $69,000 after acquiring an additional 2,787 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Amerant Bancorp by 30.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company's stock valued at $117,000 after acquiring an additional 1,197 shares during the last quarter. SG Americas Securities LLC bought a new stake in Amerant Bancorp during the second quarter worth about $199,000. Finally, Quadrature Capital Ltd acquired a new position in Amerant Bancorp during the third quarter valued at approximately $247,000. Institutional investors own 42.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James decreased their target price on shares of Amerant Bancorp from $27.00 to $25.00 and set an "outperform" rating for the company in a research note on Wednesday, October 2nd. Stephens upgraded shares of Amerant Bancorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $24.00 to $25.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods raised their target price on shares of Amerant Bancorp from $24.00 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on Amerant Bancorp from $26.50 to $29.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Amerant Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $26.40.

Amerant Bancorp Stock Performance

AMTB traded up $0.25 on Tuesday, reaching $25.29. The company had a trading volume of 385,510 shares, compared to its average volume of 143,842. The stock has a market cap of $1.06 billion, a P/E ratio of -16.82 and a beta of 1.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. Amerant Bancorp Inc. has a fifty-two week low of $18.54 and a fifty-two week high of $27.00. The company's fifty day moving average is $22.59 and its 200 day moving average is $22.12.

Amerant Bancorp (NASDAQ:AMTB - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of ($999.00) million for the quarter, compared to the consensus estimate 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 earned $0.64 earnings per share. As a group, analysts predict that Amerant Bancorp Inc. will post 1.22 earnings per share for the current fiscal year.

Amerant Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, November 14th. Amerant Bancorp's dividend payout ratio is currently -24.32%.

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.