Renaissance Technologies LLC Invests $250,000 in Amerant Bancorp Inc. (NASDAQ:AMTB)

Renaissance Technologies LLC purchased a new position in Amerant Bancorp Inc. (NASDAQ:AMTB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,000 shares of the company’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Amerant Bancorp by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company’s stock valued at $19,621,000 after purchasing an additional 72,028 shares during the period. Rhumbline Advisers raised its holdings in shares of Amerant Bancorp by 10.9% during the second quarter. Rhumbline Advisers now owns 46,973 shares of the company’s stock valued at $1,066,000 after buying an additional 4,622 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Amerant Bancorp by 30.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after buying an additional 1,197 shares during the period. Bank of New York Mellon Corp grew 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 worth $3,546,000 after buying an additional 21,318 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Amerant Bancorp in the 2nd quarter worth approximately $199,000. Institutional investors and hedge funds own 42.11% of the company’s stock.

Wall Street Analyst Weigh In

AMTB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price target on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Piper Sandler raised shares of Amerant Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $26.00 to $26.50 in a research note on Monday, September 30th. Stephens raised shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $25.00 in a research note on Monday, September 30th. Raymond James lowered their price objective on shares of Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Janney Montgomery Scott cut Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.10.

Amerant Bancorp Trading Up 2.6 %

NASDAQ:AMTB opened at $20.17 on Friday. The stock has a market cap of $674.28 million, a PE ratio of 33.07 and a beta of 0.99. Amerant Bancorp Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $27.00. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.97 and a quick ratio of 0.89. The stock’s 50-day moving average is $20.76 and its two-hundred day moving average is $21.91.

Amerant Bancorp (NASDAQ:AMTB) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.07). The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, equities research analysts forecast that Amerant Bancorp Inc. will post 1.15 earnings per share for the current fiscal year.

Amerant Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.78%. Amerant Bancorp’s payout ratio is 59.02%.

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.