Amerant Bancorp (NYSE:AMTB) Hits New 52-Week High – What’s Next?

Amerant Bancorp Inc. (NYSE:AMTB)’s stock price reached a new 52-week high during trading on Thursday. The company traded as high as $31.00 and last traded at $30.4960, with a volume of 27,407 shares trading hands. The stock had previously closed at $30.07.

Analyst Ratings Changes

AMTB has been the topic of several recent analyst reports. Weiss Ratings raised Amerant Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Amerant Bancorp in a research report on Monday. Wall Street Zen raised shares of Amerant Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Stephens lowered shares of Amerant Bancorp from an “overweight” rating to an “equal weight” rating and set a $32.00 target price for the company. in a research note on Wednesday, August 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 price target (up from $33.50) on shares of Amerant Bancorp in a research report on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.25.

Amerant Bancorp Stock Up 0.0%

The business has a fifty day moving average of $29.32 and a 200 day moving average of $25.34. The company has a market capitalization of $1.16 billion, a PE ratio of 17.48 and a beta of 0.80. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.87.

Amerant Bancorp (NYSE:AMTB) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $108.80 million for the quarter, compared to analyst estimates of $103.35 million. Amerant Bancorp had a net margin of 10.63% and a return on equity of 9.36%. Equities research analysts anticipate that Amerant Bancorp Inc. will post 2.24 EPS for the current year.

Amerant Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 13th. Amerant Bancorp’s dividend payout ratio is presently 21.30%.

Institutional Investors Weigh In On Amerant Bancorp

Several hedge funds have recently modified their holdings of AMTB. Nykredit A S purchased a new position in Amerant Bancorp in the second quarter valued at about $29,000. State of Alaska Department of Revenue bought a new position in Amerant Bancorp in the 3rd quarter worth about $39,000. Royal Bank of Canada increased its holdings in shares of Amerant Bancorp by 149.2% during the first quarter. Royal Bank of Canada now owns 2,524 shares of the company’s stock valued at $56,000 after purchasing an additional 1,511 shares during the period. USA Financial Formulas bought a new stake in Amerant Bancorp during the third quarter worth approximately $50,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Amerant Bancorp by 455.6% in the third quarter. Nisa Investment Advisors LLC now owns 2,350 shares of the company’s stock valued at $67,000 after buying an additional 1,927 shares during the period. 42.11% of the stock is owned by institutional investors and hedge funds.

Amerant Bancorp Company Profile

Amerant Bancorp is the bank holding company for Amerant Bank, a regional financial institution headquartered in Coral Gables, Florida. Through its banking subsidiary, the company provides financial products and services to consumers, businesses and institutions, with a primary focus on markets in Florida and Texas.

Amerant Bank offers deposit accounts, consumer and commercial loans, residential mortgages, home equity products, credit cards and treasury management services. It also provides wealth management and investment services, along with digital banking tools that allow customers to manage accounts, transfer funds and make payments online and through mobile devices.

The company traces its origins to 1970, when it was established as Commercebank.