Amerant Bancorp (NASDAQ:AMTB) Shares Gap Up After Dividend Announcement

Amerant Bancorp Inc. (NASDAQ:AMTB)’s stock price gapped up prior to trading on Thursday after the company announced a dividend. The stock had previously closed at $22.40, but opened at $24.20. Amerant Bancorp shares last traded at $24.29, with a volume of 23,126 shares traded.

The newly announced 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 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, February 14th. Amerant Bancorp’s payout ratio is -24.32%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James reduced their target price on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Stephens reissued an “overweight” rating and issued a $29.00 price objective on shares of Amerant Bancorp in a report on Thursday. Keefe, Bruyette & Woods increased 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. Finally, Piper Sandler increased their price objective on Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.20.

Amerant Bancorp Stock Up 4.7 %

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 firm has a market capitalization of $987.48 million, a price-to-earnings ratio of -15.84 and a beta of 1.03. The business has a fifty day moving average price of $23.35 and a two-hundred day moving average price of $22.29.

Amerant Bancorp (NASDAQ:AMTB) last issued its 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 positive return on equity of 5.73% and a negative net margin of 8.38%. The firm had revenue of ($999.00) million for the quarter, compared to the consensus estimate of $99.39 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities analysts expect that Amerant Bancorp Inc. will post 1.19 earnings per share for the current year.

Institutional Trading of Amerant Bancorp

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Amerant Bancorp by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company’s stock worth $19,621,000 after purchasing an additional 72,028 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Amerant Bancorp during the second quarter worth approximately $250,000. Squarepoint Ops LLC purchased a new position in shares of Amerant Bancorp in the second quarter valued at approximately $281,000. The Manufacturers Life Insurance Company lifted its position in shares of 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 in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Amerant Bancorp by 77.7% in the third 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. Hedge funds and other institutional investors own 42.11% of the company’s stock.

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.