Geode Capital Management LLC Boosts Stake in Amerant Bancorp Inc. (NASDAQ:AMTB)

Geode Capital Management LLC lifted its stake in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 734,376 shares of the company’s stock after purchasing an additional 87,696 shares during the quarter. Geode Capital Management LLC owned about 2.20% of Amerant Bancorp worth $15,697,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Amerant Bancorp by 15.8% during the second 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Amerant Bancorp by 30.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after acquiring an additional 1,197 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Amerant Bancorp by 10.9% during the 2nd quarter. Rhumbline Advisers now owns 46,973 shares of the company’s stock worth $1,066,000 after acquiring an additional 4,622 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Amerant Bancorp by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company’s stock worth $19,621,000 after acquiring an additional 72,028 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Amerant Bancorp in the 2nd quarter valued at approximately $250,000. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James cut their price target on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Piper Sandler upped their target price on Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased 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. Finally, Stephens raised Amerant Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $25.00 in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Amerant Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Amerant Bancorp Stock Performance

Shares of AMTB opened at $22.33 on Monday. Amerant Bancorp Inc. has a 1 year low of $18.54 and a 1 year high of $27.00. The company’s 50 day simple moving average is $23.48 and its 200 day simple moving average is $22.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market capitalization of $940.27 million, a price-to-earnings ratio of -15.09 and a beta of 1.01.

Amerant Bancorp (NASDAQ:AMTB) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (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 analyst estimates of $99.39 million. During the same period last year, the company earned $0.64 EPS. On average, sell-side analysts predict that Amerant Bancorp Inc. will post 1.22 EPS for the current year.

Amerant Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.61%. Amerant Bancorp’s payout ratio is -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.