Geode Capital Management LLC Raises Holdings in Amerant Bancorp Inc. (NASDAQ:AMTB)

Geode Capital Management LLC lifted its stake in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 822,553 shares of the company's stock after purchasing an additional 88,177 shares during the period. Geode Capital Management LLC owned 1.95% of Amerant Bancorp worth $18,438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Amerant Bancorp by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 2,096,580 shares of the company's stock worth $46,984,000 after purchasing an additional 87,136 shares during the period. State Street Corp lifted its position in shares of Amerant Bancorp by 8.2% in the 3rd quarter. State Street Corp now owns 807,835 shares of the company's stock worth $17,263,000 after purchasing an additional 61,056 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Amerant Bancorp by 47.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 479,466 shares of the company's stock worth $10,745,000 after purchasing an additional 154,466 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Amerant Bancorp by 11.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 301,142 shares of the company's stock worth $6,749,000 after acquiring an additional 30,219 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Amerant Bancorp during the 4th quarter valued at about $5,327,000. 42.11% of the stock is owned by hedge funds and other institutional investors.

Amerant Bancorp Price Performance

AMTB stock traded down $2.11 during trading on Thursday, reaching $17.37. The company's stock had a trading volume of 125,599 shares, compared to its average volume of 182,014. Amerant Bancorp Inc. has a 1 year low of $16.37 and a 1 year high of $27.00. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $728.23 million, a P/E ratio of -30.50 and a beta of 1.05. The company's fifty day moving average is $20.59 and its 200-day moving average is $22.03.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.07%. Amerant Bancorp's payout ratio is presently -63.16%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMTB. Raymond James lowered shares of Amerant Bancorp from an "outperform" rating to a "market perform" rating in a report on Thursday. Stephens restated an "overweight" rating and issued a $29.00 price target on shares of Amerant Bancorp in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Amerant Bancorp from $25.00 to $27.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.00.

About Amerant Bancorp

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.