Amerant Bancorp Inc. (NASDAQ:AMTB) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Amerant Bancorp Inc. (NASDAQ:AMTB) by 74.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,642,703 shares of the company’s stock after acquiring an additional 2,401,027 shares during the quarter. Wellington Management Group LLP owned 0.17% of Amerant Bancorp worth $120,585,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMTB. State Street Corp grew its stake in shares of Amerant Bancorp by 8.2% in the third quarter. State Street Corp now owns 807,835 shares of the company’s stock worth $17,263,000 after purchasing an additional 61,056 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Amerant Bancorp in the third quarter worth about $247,000. Philadelphia Financial Management of San Francisco LLC bought a new position in Amerant Bancorp in the 3rd quarter valued at about $13,613,000. Jacobs Asset Management LLC acquired a new position in Amerant Bancorp during the 3rd quarter valued at about $2,564,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Amerant Bancorp by 35.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 51,598 shares of the company’s stock worth $1,103,000 after acquiring an additional 13,403 shares during the period. Institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Price Performance

Shares of NASDAQ:AMTB opened at $24.89 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of -16.82 and a beta of 1.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a fifty day moving average of $22.59 and a 200-day moving average of $22.12. Amerant Bancorp Inc. has a one year low of $18.54 and a one year high of $27.00.

Amerant Bancorp (NASDAQ:AMTB) last announced its earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of ($999.00) million during the quarter, compared to the consensus estimate of $99.39 million. Amerant Bancorp had a positive return on equity of 5.73% and a negative net margin of 8.38%. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts anticipate that Amerant Bancorp Inc. will post 1.22 EPS for the current fiscal year.

Amerant Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, November 14th. Amerant Bancorp’s dividend payout ratio (DPR) is currently -24.32%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $25.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods lifted their price target on Amerant Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James cut their price objective on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Piper Sandler raised their target price on Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.40.

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.