Mendon Capital Advisors Corp Reduces Stock Holdings in Amerant Bancorp Inc. (NASDAQ:AMTB)

Mendon Capital Advisors Corp reduced its position in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 98.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,517 shares of the company’s stock after selling 196,483 shares during the period. Mendon Capital Advisors Corp’s holdings in Amerant Bancorp were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Amerant Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 207,699 shares of the company’s stock worth $5,103,000 after buying an additional 2,649 shares during the last quarter. Wellington Management Group LLP raised its position in Amerant Bancorp by 9.4% in the fourth quarter. Wellington Management Group LLP now owns 3,113,483 shares of the company’s stock valued at $76,498,000 after purchasing an additional 267,466 shares during the period. Salzhauer Michael raised its position in Amerant Bancorp by 66.7% in the first quarter. Salzhauer Michael now owns 24,988 shares of the company’s stock valued at $582,000 after purchasing an additional 10,000 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Amerant Bancorp by 89.8% in the 1st quarter. BNP Paribas Financial Markets now owns 13,234 shares of the company’s stock valued at $308,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Amerant Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,619,150 shares of the company’s stock worth $37,710,000 after purchasing an additional 10,835 shares during the period. 42.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMTB shares. Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $24.00 to $25.00 in a report on Monday. Janney Montgomery Scott downgraded shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Friday, July 26th. Keefe, Bruyette & Woods decreased their price objective on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Finally, Piper Sandler upgraded shares of Amerant Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $26.50 in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Amerant Bancorp has an average rating of “Moderate Buy” and an average price target of $25.50.

Amerant Bancorp Trading Down 5.0 %

NASDAQ AMTB opened at $20.30 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $684.43 million, a price-to-earnings ratio of 29.85 and a beta of 1.00. The firm has a 50 day simple moving average of $21.30 and a 200-day simple moving average of $22.04. Amerant Bancorp Inc. has a one year low of $16.63 and a one year high of $27.00.

Amerant Bancorp (NASDAQ:AMTB) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.07). The business had revenue of $98.78 million during the quarter, compared to analyst estimates of $93.19 million. Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. During the same quarter last year, the firm earned $0.24 EPS. Equities research analysts anticipate that Amerant Bancorp Inc. will post 1.33 EPS for the current fiscal year.

Amerant Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Thursday, August 15th. Amerant Bancorp’s dividend payout ratio is currently 52.94%.

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.