Amerant Bancorp Inc. $AMTB Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC increased its holdings in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 246,297 shares of the company’s stock after purchasing an additional 20,954 shares during the quarter. Peregrine Capital Management LLC owned 0.59% of Amerant Bancorp worth $4,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP increased its position in shares of Amerant Bancorp by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,590,839 shares of the company’s stock worth $115,395,000 after purchasing an additional 70,455 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Amerant Bancorp by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 2,124,902 shares of the company’s stock worth $43,858,000 after purchasing an additional 28,322 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC increased its position in shares of Amerant Bancorp by 0.5% during the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 563,973 shares of the company’s stock worth $11,640,000 after purchasing an additional 2,809 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Amerant Bancorp by 3.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 550,683 shares of the company’s stock valued at $10,039,000 after acquiring an additional 16,943 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Amerant Bancorp in the 1st quarter valued at about $8,806,000. 42.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMTB. Keefe, Bruyette & Woods lifted their target price on Amerant Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, July 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 target price on shares of Amerant Bancorp in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Amerant Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Amerant Bancorp Stock Performance

NASDAQ AMTB opened at $16.92 on Wednesday. The company has a market cap of $706.56 million, a P/E ratio of -29.69 and a beta of 1.30. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 0.94. The stock has a 50-day moving average of $19.81 and a two-hundred day moving average of $18.89. Amerant Bancorp Inc. has a 1-year low of $15.62 and a 1-year high of $26.24.

Amerant Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.1%. Amerant Bancorp’s payout ratio is currently -180.00%.

Amerant Bancorp Company 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.