Amerant Bancorp Inc. (NASDAQ:AMTB) Shares Bought by State Street Corp

State Street Corp increased its stake in Amerant Bancorp Inc. (NASDAQ:AMTB) by 8.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 807,835 shares of the company’s stock after buying an additional 61,056 shares during the quarter. State Street Corp owned about 2.42% of Amerant Bancorp worth $17,263,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Amerant Bancorp during the 3rd quarter worth $13,613,000. Azora Capital LP purchased a new stake in shares of Amerant Bancorp during the third quarter worth about $11,495,000. Verition Fund Management LLC purchased a new stake in shares of Amerant Bancorp during the third quarter worth about $7,392,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Amerant Bancorp in the third quarter worth about $6,945,000. Finally, Curi RMB Capital LLC boosted its holdings in Amerant Bancorp by 94.2% in the third quarter. Curi RMB Capital LLC now owns 388,319 shares of the company’s stock valued at $8,298,000 after purchasing an additional 188,319 shares during the last quarter. 42.11% of the stock is currently owned by hedge funds and other institutional investors.

Amerant Bancorp Stock Performance

Amerant Bancorp stock opened at $22.62 on Wednesday. Amerant Bancorp Inc. has a 12-month low of $18.54 and a 12-month high of $27.00. The stock has a market capitalization of $952.48 million, a PE ratio of -15.28 and a beta of 1.01. The firm has a 50 day simple moving average of $23.35 and a 200-day simple moving average of $22.27. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 0.94.

Amerant Bancorp (NASDAQ:AMTB) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of ($999.00) million during the quarter, compared to the consensus estimate of $99.39 million. Amerant Bancorp had a negative net margin of 8.38% and a positive return on equity of 5.73%. During the same period in the prior year, the company earned $0.64 EPS. As a group, equities research analysts expect that Amerant Bancorp Inc. will post 1.22 EPS for the current fiscal year.

Amerant Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, November 14th. Amerant Bancorp’s dividend payout ratio is -24.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMTB. Piper Sandler lifted their price target 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. Raymond James cut their target price 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. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $24.00 to $25.00 in a research note on Monday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on Amerant Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.40.

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.