State Street Corp increased its stake in shares of Amerant Bancorp Inc. (NASDAQ:AMTB – Free Report) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 807,835 shares of the company’s stock after buying an additional 61,056 shares during the quarter. State Street Corp’s holdings in Amerant Bancorp were worth $17,263,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creative Planning lifted its holdings in shares of Amerant Bancorp by 7.6% during the 3rd quarter. Creative Planning now owns 11,974 shares of the company’s stock valued at $256,000 after buying an additional 850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Amerant Bancorp by 30.1% during 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 in the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 last quarter. US Bancorp DE grew its position in Amerant Bancorp by 655.8% in the third quarter. US Bancorp DE now owns 3,212 shares of the company’s stock worth $69,000 after acquiring an additional 2,787 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Amerant Bancorp during the 3rd quarter worth $65,000. 42.11% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on AMTB shares. Keefe, Bruyette & Woods raised their target price on Amerant Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $24.00 to $25.00 in a report on Monday, September 30th. Raymond James lowered their price target on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Piper Sandler boosted their price objective on shares of Amerant Bancorp from $26.50 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Amerant Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $26.40.
Amerant Bancorp Stock Performance
Shares of Amerant Bancorp stock opened at $22.62 on Wednesday. Amerant Bancorp Inc. has a 1 year low of $18.54 and a 1 year high of $27.00. The company’s fifty day simple moving average is $23.35 and its 200-day simple moving average is $22.27. The company has a market cap of $952.48 million, a price-to-earnings ratio of -15.28 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.18.
Amerant Bancorp (NASDAQ:AMTB – Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Amerant Bancorp had a negative net margin of 8.38% and a positive return on equity of 5.73%. The business had revenue of ($999.00) million during the quarter, compared to analysts’ expectations of $99.39 million. During the same quarter last year, the company earned $0.64 earnings per share. As a group, sell-side analysts expect that Amerant Bancorp Inc. will post 1.22 EPS for the current year.
Amerant Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a $0.09 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.36 annualized dividend and a yield of 1.59%. Amerant Bancorp’s dividend payout ratio (DPR) is currently -24.32%.
Amerant Bancorp 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.
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