Allspring Global Investments Holdings LLC purchased a new position in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 325,000 shares of the company's stock, valued at approximately $6,945,000. Allspring Global Investments Holdings LLC owned about 0.96% of Amerant Bancorp at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Amerant Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,619,150 shares of the company's stock worth $37,710,000 after purchasing an additional 10,835 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Amerant Bancorp by 9.1% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in Amerant Bancorp by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 156,190 shares of the company's stock valued at $3,546,000 after acquiring an additional 21,318 shares in the last quarter. Rhumbline Advisers raised its holdings in Amerant Bancorp by 10.9% in the 2nd quarter. Rhumbline Advisers now owns 46,973 shares of the company's stock valued at $1,066,000 after acquiring an additional 4,622 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Amerant Bancorp by 77.7% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 42.11% of the company's stock.
Amerant Bancorp Price Performance
NASDAQ AMTB traded up $1.12 during trading hours on Monday, reaching $22.00. 300,326 shares of the company's stock were exchanged, compared to its average volume of 126,728. The stock has a market cap of $741.75 million, a PE ratio of 32.35 and a beta of 0.99. Amerant Bancorp Inc. has a one year low of $17.55 and a one year high of $27.00. The firm has a fifty day moving average of $20.99 and a 200-day moving average of $21.78. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.
Amerant Bancorp (NASDAQ:AMTB - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. The business had revenue of ($999.00) million for the quarter, compared to analyst estimates of $99.39 million. During the same period in the prior year, the company earned $0.64 EPS. On average, equities research analysts predict that Amerant Bancorp Inc. will post 1.15 earnings per share for the current fiscal year.
Amerant Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, November 14th. Amerant Bancorp's dividend payout ratio is 52.94%.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Keefe, Bruyette & Woods cut their price target on Amerant Bancorp from $26.00 to $24.00 and set a "market perform" rating for the company in a report on Monday, July 29th. Stephens upgraded Amerant Bancorp from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $24.00 to $25.00 in a research note on Monday, September 30th. Piper Sandler upped their price objective on Amerant Bancorp from $26.50 to $29.00 and gave the company an "overweight" rating in a research note on Friday. Janney Montgomery Scott lowered Amerant Bancorp from a "buy" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research note on Friday, July 26th. Finally, Raymond James lowered their price objective on Amerant Bancorp from $27.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.60.
View Our Latest Analysis on Amerant Bancorp
Amerant Bancorp Company Profile
(
Free Report)
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.
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