Amerant Bancorp (NYSE:AMTB) Sets New 52-Week High – Here’s What Happened

Amerant Bancorp Inc. (NYSE:AMTB)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $26.21 and last traded at $26.0890, with a volume of 83522 shares trading hands. The stock had previously closed at $25.52.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMTB shares. Weiss Ratings raised shares of Amerant Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Amerant Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Zacks Research raised shares of Amerant Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.67.

Amerant Bancorp Stock Performance

The company’s fifty day moving average price is $23.21 and its two-hundred day moving average price is $22.13. The firm has a market capitalization of $1.03 billion, a PE ratio of 18.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 0.87.

Amerant Bancorp (NYSE:AMTB) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $177.94 million during the quarter, compared to analyst estimates of $102.56 million. Amerant Bancorp had a net margin of 8.83% and a return on equity of 8.59%. As a group, equities analysts expect that Amerant Bancorp Inc. will post 1.79 earnings per share for the current year.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.09 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a yield of 1.4%. Amerant Bancorp’s dividend payout ratio (DPR) is presently 25.53%.

Institutional Investors Weigh In On Amerant Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amerant Bancorp by 1.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,309 shares of the company’s stock valued at $962,000 after acquiring an additional 473 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Amerant Bancorp by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 154,003 shares of the company’s stock worth $2,807,000 after purchasing an additional 500 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Amerant Bancorp by 11.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,986 shares of the company’s stock worth $91,000 after acquiring an additional 526 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Amerant Bancorp by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 35,819 shares of the company’s stock valued at $653,000 after buying an additional 617 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Amerant Bancorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,989 shares of the company’s stock valued at $454,000 after acquiring an additional 963 shares during the period. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Company Profile

Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.

Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.