JPMorgan Chase & Co. Acquires 1,705 Shares of Amerant Bancorp Inc. (NASDAQ:AMTB)

JPMorgan Chase & Co. increased its holdings in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,261 shares of the company’s stock after purchasing an additional 1,705 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Amerant Bancorp worth $497,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Amerant Bancorp by 74.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,642,703 shares of the company’s stock worth $120,585,000 after buying an additional 2,401,027 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in Amerant Bancorp in the third quarter valued at $13,613,000. Azora Capital LP acquired a new position in shares of Amerant Bancorp during the third quarter valued at about $11,495,000. Verition Fund Management LLC bought a new position in shares of Amerant Bancorp during the 3rd quarter worth about $7,392,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Amerant Bancorp in the 3rd quarter valued at about $6,945,000. 42.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMTB. Piper Sandler upped their price target on 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 Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Amerant Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Stephens reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of Amerant Bancorp in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Amerant Bancorp Price Performance

AMTB opened at $23.13 on Wednesday. The firm’s fifty day moving average price is $23.31 and its two-hundred day moving average price is $22.28. The company has a market capitalization of $973.88 million, a price-to-earnings ratio of -40.57 and a beta of 1.03. 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 Inc. has a 1 year low of $18.54 and a 1 year high of $27.00.

Amerant Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, February 14th. Amerant Bancorp’s payout ratio is -63.16%.

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.