Amerant Bancorp (NASDAQ:AMTB) Stock Price Up 4.1% – Here’s Why

Amerant Bancorp Inc. (NASDAQ:AMTB)’s stock price traded up 4.1% during trading on Monday . The company traded as high as $20.78 and last traded at $20.5090. 403,306 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 359,153 shares. The stock had previously closed at $19.71.

Wall Street Analyst Weigh In

AMTB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Amerant Bancorp from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Piper Sandler reduced their target price on shares of Amerant Bancorp from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Raymond James Financial set a $21.00 price target on shares of Amerant Bancorp and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

Amerant Bancorp Price Performance

The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. The firm has a market cap of $846.32 million, a PE ratio of -35.98 and a beta of 1.03. The stock has a 50 day moving average price of $18.81 and a two-hundred day moving average price of $19.32.

Amerant Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, November 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. Amerant Bancorp’s dividend payout ratio is presently 22.78%.

Institutional Investors Weigh In On Amerant Bancorp

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Amerant Bancorp by 171.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 222,940 shares of the company’s stock worth $4,296,000 after acquiring an additional 140,833 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Amerant Bancorp by 411.8% in the third quarter. Tudor Investment Corp ET AL now owns 90,367 shares of the company’s stock valued at $1,741,000 after purchasing an additional 72,709 shares during the period. Numerai GP LLC raised its stake in shares of Amerant Bancorp by 65.4% in the third quarter. Numerai GP LLC now owns 50,397 shares of the company’s stock worth $971,000 after purchasing an additional 19,928 shares during the last quarter. Millennium Management LLC raised its stake in shares of Amerant Bancorp by 756.2% in the third quarter. Millennium Management LLC now owns 437,847 shares of the company’s stock worth $8,437,000 after purchasing an additional 386,710 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Amerant Bancorp by 5.4% during the third quarter. Bank of America Corp DE now owns 56,685 shares of the company’s stock worth $1,092,000 after purchasing an additional 2,919 shares during the period. 42.11% of the stock is owned by hedge funds and other institutional investors.

Amerant Bancorp Company Profile

Amerant Bancorp is the bank holding company for Amerant Bank, a full‐service community bank headquartered in Coral Gables, Florida. Through its banking subsidiary, Amerant Bank, the company offers a broad range of commercial and consumer banking solutions designed to serve both individual customers and small‐ to medium‐sized businesses. Its core activities include deposit gathering, lending, and cash management services.

The firm’s product lineup encompasses traditional checking and savings accounts, mortgage and commercial real estate loans, construction financing, and equipment lending.