Amerant Bancorp (NASDAQ:AMTB) Shares Gap Up After Dividend Announcement

Amerant Bancorp Inc. (NASDAQ:AMTB - Get Free Report) gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $22.40, but opened at $24.20. Amerant Bancorp shares last traded at $24.29, with a volume of 23,126 shares trading hands.

The newly announced dividend which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, February 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.55%. Amerant Bancorp's payout ratio is currently -63.16%.

Wall Street Analysts Forecast Growth

AMTB has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Amerant Bancorp from $26.50 to $29.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Stephens restated an "overweight" rating and set a $29.00 target price on shares of Amerant Bancorp in a research report on Thursday. Raymond James lowered their target price on shares of Amerant Bancorp from $27.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Amerant Bancorp from $24.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.20.

Amerant Bancorp Trading Down 1.1 %

The business's 50-day moving average is $23.35 and its two-hundred day moving average is $22.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a market capitalization of $977.37 million, a PE ratio of -40.72 and a beta of 1.03.

Amerant Bancorp (NASDAQ:AMTB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. Amerant Bancorp had a negative net margin of 8.38% and a positive return on equity of 6.36%. The firm had revenue of ($999.00) million for the quarter, compared to analyst estimates of $99.39 million. During the same period last year, the firm posted $0.64 EPS. As a group, equities research analysts anticipate that Amerant Bancorp Inc. will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On Amerant Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of AMTB. Dimensional Fund Advisors LP lifted its holdings in Amerant Bancorp by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company's stock valued at $19,621,000 after acquiring an additional 72,028 shares during the period. Renaissance Technologies LLC acquired a new stake in Amerant Bancorp in the second quarter valued at $250,000. Squarepoint Ops LLC acquired a new stake in Amerant Bancorp in the second quarter valued at $281,000. The Manufacturers Life Insurance Company lifted its holdings in Amerant Bancorp by 23.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company's stock valued at $272,000 after acquiring an additional 2,316 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Amerant Bancorp by 77.7% in the third quarter. SG Americas Securities LLC now owns 15,590 shares of the company's stock valued at $333,000 after acquiring an additional 6,817 shares during the period. Institutional investors and hedge funds own 42.11% of the company's stock.

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.