Peregrine Capital Management LLC Invests $5.33 Million in Amerant Bancorp Inc. (NASDAQ:AMTB)

Peregrine Capital Management LLC purchased a new position in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 237,705 shares of the company's stock, valued at approximately $5,327,000. Peregrine Capital Management LLC owned about 0.56% of Amerant Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMTB. Wellington Management Group LLP boosted its position in shares of Amerant Bancorp by 74.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,642,703 shares of the company's stock valued at $120,585,000 after acquiring an additional 2,401,027 shares in the last quarter. State Street Corp lifted its holdings in Amerant Bancorp by 8.2% during the 3rd quarter. State Street Corp now owns 807,835 shares of the company's stock valued at $17,263,000 after purchasing an additional 61,056 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Amerant Bancorp by 13.6% during the 3rd quarter. Geode Capital Management LLC now owns 734,376 shares of the company's stock valued at $15,697,000 after purchasing an additional 87,696 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in Amerant Bancorp during the 3rd quarter valued at about $13,613,000. Finally, Azora Capital LP bought a new position in shares of Amerant Bancorp in the third quarter worth about $11,495,000. 42.11% of the stock is currently owned by institutional investors and hedge funds.

Amerant Bancorp Stock Down 4.0 %

Shares of Amerant Bancorp stock traded down $0.96 on Friday, hitting $22.70. The company had a trading volume of 208,476 shares, compared to its average volume of 185,309. The firm has a market capitalization of $955.69 million, a P/E ratio of -39.82 and a beta of 1.02. Amerant Bancorp Inc. has a twelve month low of $18.54 and a twelve month high of $27.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 0.94. The stock has a 50-day moving average of $22.72 and a 200-day moving average of $22.21.

Amerant Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, February 14th. Amerant Bancorp's dividend payout ratio is presently -63.16%.

Wall Street Analyst Weigh In

AMTB has been the subject of a number of recent research reports. Stephens reissued an "overweight" rating and set a $29.00 price target on shares of Amerant Bancorp in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Amerant Bancorp from $25.00 to $27.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, Piper Sandler boosted their price objective on shares of Amerant Bancorp from $26.50 to $29.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Amerant Bancorp has a consensus rating of "Moderate Buy" and an average price target of $27.00.

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.